Aug. 6 at 7:29 PM
$APO to acquire a majority stake in Stream Data Centers, making its first such acquisition on booming demand for digital infrastructure.
Stream Data Centers builds, leases, manages and operates large-scale data center campuses.
Apollo is betting that so-called hyperscalers will continue to rely on outside developers to find the land they need to build data centers, get regulatory approvals for it, & secure sources to cover their vast power needs
Alternative asset managers have been spending big on data centers as the rise of AI spurs a growing demand for power.
$BX (world’s largest alternative asset manager) is a leader in the space, having acquired data center operator QTS for
$10B in 2021.
Apollo ests “several trillion dollars of investment” are needed over the next decade to meet data center demand
Morgan Stanley: Cap-ex on AI could exceed
$3T in the next 3 years.
McKinsey: Physical sites for computing could require spending of up to
$6.7T worldwide by 2030
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