Denver-headquartered Cologix will use the financing for an already in-service facility near the Montreal airport with 21 megawatts of power capacity. It’s the third time Caisse de dépôt et placement du Québec has backed the firm. (The Logic)

Talking point: As its name suggests, Cologix operates its data centres using the popular colocation model, in which a firm builds, powers and networks the facility, then rents space in which cloud service providers and businesses can put their servers and other hardware. Montreal has been a popular destination for such compute sites because of relatively cheap hydro energy. Quebec is now seeking to ride the AI boom, courting new data centres but charging higher rates to connect them to the grid. La Caisse previously held and sold a major stake in eStruxture, a Montreal-based data centre firm, and has financed international players like DigitalBridge and Vantage.