NTT Unit Said to Seek $1 Billion to Develop Data Centers in US

NTT Global Data Centers, a unit of Japan’s NTT Inc., is seeking at least $1 billion in fresh capital to fund development projects in the US, according to people with knowledge of the matter.

The company is working with Citigroup Inc. to raise the money by selling stakes in a development company for new data center projects in the US, said the people, who asked not to be identified as the information is private. It may increase the size of the equity offering depending on investor demand and could also raise a credit facility, the people said.

The ...