SINGAPORE'S Keppel posted a 5-percent rise in its full-year underlying profit on Wednesday, as earnings for its connectivity segment were boosted by strong demand for digital infrastructure required for artificial intelligence (AI)-based services.
SINGAPORE'S Keppel posted a 5-percent rise in its full-year underlying profit on Wednesday, as earnings for its connectivity segment were boosted by strong demand for digital infrastructure required for artificial intelligence -based services. Annual net profit for Keppel's connectivity arm, which operates its data center business, rose nearly 45 percent. Data centers house computer servers and equipment that companies use to process and store data.
Keppel, which was founded over 56 years ago and traces its roots to a shipbuilding yard, said in October that it intends to more than double its data center funds under management and expand its capacity.Keppel's highest-earning infrastructure segment, on the other hand, saw its profit fall 4 percent to SG$673 million for the 12 months ended Dec. 31, due to a drop in fair value gains from sponsor stakes and lower distributions from unit Keppel Infrastructure Trust.
Center Demand Drives Keppel's Annual Profit Higher
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