Key Singapore Companies Benefiting from the AI and Data Centre Surge

First, BT article quoted analysts citing a who’s who of local tech and infrastructure names.

Singtel, for instance, is in for its rapid push into data centers—hyperscaling on Singapore turf.

The report says Singtel’s Nxera arm, neocloud operations, and GPU-as-a-service platforms are already servicing AI clients, with more growth eyed both locally and in hot markets like Japan and South Korea.

Partnerships with the likes of Microsoft and Oracle are a big plus point for them.

CSE Global is riding the same data center wave as its revenue mix shifts towards big US projects.

“Currently growing with one Faang (Facebook or Meta, Amazon, Apple, Netflix, Google) customer but we expect many more orders from this existing customer and a potential new customer by the end of this year in this space,” said Maybank Research analyst Hussaini Saifee.

Keppel DC Reit also makes the list for snapping up “AI-ready” data centers, restructuring its portfolio and pivoting towards more power-hungry, future-proof assets.

On the power front, Sembcorp Industries is noted for running the grid that powers much of Singapore’s data center ecosystem.

With a whopping 33% share of energy provision to local data centers, it counts key clients including Singtel and Equinix.

In the semiconductor ecosystem, analysts cited Frencken (advanced lithography) and AEM (chip testing and customers ramping up AI GPUs and DRAM memory).

Frencken is the key supplier for components in the most advanced lithography machine used to produce two-nanometre, semiconductor chips by its Netherlands-based customer.

Rounding out picks mentioned by analysts are ST Engineering (AI in smart mobility, cybersecurity, and MRO for aviation) and DBS Group, which is leveraging predictive models and hyper-personalization in banking, with a projected SG$1 billion in value from internal AI deployments this year.