Carlyle’s Conway Backs Firm Snapping Up Nordic Land for AI Boom

Carlyle Group Inc. co-founder Bill Conway is backing a new venture that aims to procure land and power in Norway and sell the assets to data-center developers and technology companies.

Kitebrook Infra, launched by real estate developer Byrne Murphy and the private equity billionaire, is part of a wave of modern-day prospectors seizing on the boom in artificial intelligence.

Murphy, 66, had teamed up with Conway after the dot-com crash to turn DigiPlex from near-collapse into one of Norway’s largest data center operators. Their latest venture is bankrolled by of tens of millions of dollars of their own personal cash, ...