AirTrunk nears $1 billion Johor data centre sale as AI selloff bites

AirTrunk is reportedly close to selling one of its data center assets in Johor, Malaysia, at an estimated valuation of $1 billion. The buyers include KWAP, Malaysia’s national pension fund. The deal and the market around it The transaction was reported on October 15, 2026. It involves an AirTrunk asset in Johor valued at approximately $1 billion, with KWAP among the investors on the other side. AirTrunk is a hyperscale data center platform. Blackstone and CPPIB hold a majority stake following their $16.1 billion acquisition of the company in 2024. The selloff in AI-linked equities, paired with rising interest rates, has delayed and reshaped fundraising efforts across the data center space. Several listings tied to the sector have been put on hold. AirTrunk’s own real estate investment trust plans have been delayed. A REIT is a vehicle that lets public investors own income-producing property. Johor’s construction spree AirTrunk has been building aggressively in Johor, the Malaysian state just across the border from Singapore. It now has several campuses at various stages of development. The first, JHB1, began operating in July 2024. It targets more than 150 MW of capacity. JHB2 is c...