There’s a new data centre company preparing to hit Wall Street. And they’re aiming to repurpose industrial sites throughout America to power artificial intelligence workloads.

What’s happening:

  • TECfusions has entered into a business combination with Apex Treasury (NASDAQ: APXT) to become a publicly traded company on the Nasdaq

By the numbers:

  • The new SPAC transaction gives TECfusions a valuation of roughly $4B USD

Why it matters:

  • TECfusions is a data centre operator who is focused on converting legacy industrial sites into high performance computing campuses

Going deeper:

  • TECfusions has publicly stated they will raise $35M USD concurrently with the new SPAC deal from an institutional investor
  • TECfusions is currently operating and developing data centres in Virginia, Pennsylvania and Arizona and has an existing deal with cloud computing company TensorWave to provide them with a total of 1 gigawatt of total capacity in phased deployments

The intrigue:

  • Apex Treasury was initially launched as a SPAC specifically to pursue a deal with a crypto company prior to entering into a business combination with TECfusions