Apollo Plans Majority Stake Acquisition in US Data Centers

Apollo Global Management has agreed to acquire a majority stake in Stream Data Centers, marking its first acquisition in the digital infrastructure sector amid rising demand fueled by artificial intelligence growth. Stream Data Centers, which has developed over 20 hyperscale campuses and controls more than 4 gigawatts of long-term powered land, will continue to be led by its existing management team, who retain a minority stake. The acquisition enables Apollo-managed funds to potentially deploy billions of dollars into next-generation digital infrastructure across key U.S. markets such as Chicago, Atlanta, and Dallas. Apollo plans to accelerate site development for 650 megawatts of near-term power capacity and scale platform-wide development to meet increasing demand from hyperscale cloud and AI providers. This move aligns with Apollo's broader strategy to significantly expand investments in renewable energy, digital platforms, and compute capacity, following about $38 billion deployed since 2022. The transaction, expected to close this year, emphasizes the growing importance of data centers as critical infrastructure in the AI and cloud computing era.