Qatar's Ooredoo enters AI infrastructure market with $800m Zankore investment

Doha-based telecom operator Ooredoo on August 6 announced plans to invest about $800 million for a 49% stake in Zankore, an artificial intelligence computing platform being developed in Indonesia, marking the company’s move into AI infrastructure in Southeast Asia. The platform, being built in partnership with Indosat Ooredoo Hutchison, Nokia and NVIDIA, is expected to provide AI computing capacity for cloud and enterprise customers across the region.

"Over recent years, we have systematically built one of the MENA region's leading digital infrastructure portfolios. With Zankore, we are taking the next logical step by adding AI compute to that portfolio, extending our approach into the high-growth Southeast Asian market – one of today's most dynamic AI infrastructure opportunities," said Group CEO Aziz Aluthman Fakhroo. "We believe AI will define the next decade of value creation in emerging markets. Our role is to invest alongside the right partners, in scalable platforms that create long-term value for our shareholders while supporting the digital ambitions of the markets we serve."

Deal structure and financial expectations

Under the agreement, Ooredoo will acquire roughly 49% of Zankore for about $800 million. The company said the initial investment is expected to generate roughly $600 million in cumulative earnings before interest, tax, depreciation and amortisation (EBITDA) over the first five years, based on current estimates. Financial advisory for Ooredoo on the transaction was provided by FTI Capital Advisors.

Technical roadmap and capacity targets

Zankore aims to develop up to 1 gigawatt of NVIDIA DSX AI Factory capacity over time. The platform’s first phase is slated to deliver about 200MW of AI computing capacity in the first half of 2027, deploying NVIDIA GB300 NVL72 systems. The rollout will also incorporate NVIDIA’s DSX MaxLPS technology, which is designed to optimise power use across graphics processing units to increase effective computing capacity.

The platform is being developed alongside existing regional players: Indosat Ooredoo Hutchison will be a local partner, while Nokia and NVIDIA supply network and AI compute technologies. Ooredoo characterised the initiative as an extension of its digital infrastructure portfolio, adding AI compute to its existing assets in connectivity, international fibre, subsea cables and AI-ready data centres.

Strategic rationale and regional focus

Ooredoo said Indonesia was chosen for the project because of its growing digital economy and rising demand for AI infrastructure, and it expects Zankore to expand across Southeast Asia over time. The company framed the investment as a move to increase exposure to AI-related assets and to position itself within what it sees as "one of today's most dynamic AI infrastructure opportunities."

• Investment: approximately $800 million for a 49% stake.
• Projected EBITDA: about $600 million cumulative over first five years (company estimate).
• Initial capacity: ~200MW in H1 2027 using NVIDIA GB300 NVL72 systems.
• Long-term target: up to 1 gigawatt of NVIDIA DSX AI Factory capacity.
• Partners: Indosat Ooredoo Hutchison, Nokia, NVIDIA; financial adviser FTI Capital Advisors.

By integrating AI compute into its infrastructure stack, Ooredoo aims to create an "integrated digital infrastructure platform" spanning networks, data centres and AI compute. The investment signals the company’s intent to play a direct role in building regional AI capacity for enterprise and cloud customers as demand for specialized AI infrastructure grows.