Bain Capital has begun approaching potential buyers for its Bridge Data Center stake as Bain Capital looks to exit amid rising demand for AI infrastructure, two people familiar with the matter said. Citigroup and JPMorgan are in the process of selling and have sent preliminary marketing materials to investors for up to 70% of BDC’s stake, said the people, who requested anonymity because they were not authorized to discuss private discussions. Bain invested in BDC in 2017. The investment amount has not been made public. The discussions are at an early stage and a final decision has not yet been made, both sources said. Bain and Citigroup declined to comment. BDC and JPMorgan had not responded to requests for comment as of this article’s publication. Headquartered in Singapore, BDC operates large data center campuses in Malaysia, Thailand and India. The company raised $2.8 billion in debt financing last year. Trading frenzy Bain’s possible sale of BDC shares comes amid a trading frenzy in the space, driven by surging demand for AI computing power as hyperscalers and investors race to secure AI-enabled assets and infrastructure platforms. According to Pitchbook, transaction activity in the technology sector surged more than 40% in 2025 to a record high of nearly $1 trillion, driven by strong demand for AI infrastructure. “Data centers are the ‘pick and drop’ infrastructure of the AI revolution. Unlike AI software, data centers generate predictable, contract-based cash flow backed by long-term leases from hyperscale tenants,” Alex Ma, managing partner at Singapore-based family office Alpha Omega Holdings, told CNBC. Ma added that investor appetite for data centers in Asia remains strong and sees it as a “favorable defense” for investors seeking stability amid heightened market uncertainty. Bain has been restructuring its data center portfolio in recent years. In January, the company sold the China operations of another data center operator, WinTriX DC Group, formerly known as Chindata, in a deal worth about $4 billion. Bain merged BDC and Chindata in 2019, then separated the two businesses in 2023, with Bain taking Nasdaq-listed Chindata private in a $3.16 billion deal. The AI investment boom has raised concerns about the health of the capital investment cycle, with some questioning whether its ability to generate returns justifies its lofty valuations. Geopolitical risks and customer concentration are also weighing on investor confidence in the sector, Ma said, adding that diversification across geography and tenant base is essential for infrastructure operators. TikTok owner ByteDance is the anchor tenant at BDC’s hyperscale data center in Malaysia. BDC currently has six data centers across Malaysia, two in Thailand and one in India. Chinese technology companies like ByteDance are increasingly turning to data centers outside China, particularly in Malaysia, to secure access to high-end NVIDIA chips that the U.S. government prohibits from purchasing directly. Nvidia was then allowed to sell its more advanced H200 chips to China on the condition that the U.S. get a 25% cut of sales. CEO Jensen Huang said this week that the company is preparing to offer processors to some customers in China. BDC said on Monday it plans to invest up to S$5 billion ($3.9 billion) in its home country to develop digital infrastructure powered by advanced AI, with plans to expand regional capacity to around 2 gigawatts by 2030. Capacity could expand to up to 3 gigawatts globally by then through partnerships with peer platforms in Europe and the United States, the company said in a statement.
