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Migdal Invests 90 Million Shekels in Stark Power's AI Data Center Expansion
Israeli insurer Migdal invested 90 million shekels in Stark Power, a renewable energy and data center developer founded by former Nofar and Enlight executives.
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What happened
- 01Migdal invests 90 million shekels in Stark Power’s 145 million shekel funding round.
- 02Stark Power was founded by former Nofar and Enlight executives earlier this year.
- 03The company recently acquired US firm SAGE for 50 million dollars in cash.
- 04Stark Power’s portfolio includes 5.55 gigawatts of data center capacity and 1.55 gigawatts of gas power plants.
- 05CEO Michael Avidan highlighted the strategic advantage of combining energy and data center expertise.
- 06Stark Power has raised 665 million shekels from major institutional investors since going public.
Stark Power recently raised 145 million shekels in total funding and acquired US-based SAGE for 50 million dollars, expanding its portfolio to over 5.5 gigawatts of data center capacity. CEO Michael Avidan said Migdal’s investment reflects confidence in the company’s strategy amid booming AI-driven infrastructure demand.
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