Apollo Acquires Majority Stake in Stream Data Centers

Apollo Global Management has agreed to acquire a majority stake in Stream Data Centers (SDC), marking its first major investment in the rapidly growing digital infrastructure sector. SDC, which manages over 20 hyperscale campuses and more than 4 gigawatts of powered land, will retain its current management with a minority stake and continue to operate independently. The deal enables Apollo to potentially invest billions into next-generation data infrastructure, focusing on expansion in key U.S. markets like Chicago, Atlanta, and Dallas. This acquisition reflects a broader trend among firms such as Brookfield and KKR, which are also acquiring digital and renewable infrastructure to serve large cloud providers including Amazon, Microsoft, and Google. Industry forecasts indicate global data center spending could reach $6.7 trillion by 2030, highlighting the sector's scale and competition. Apollo’s move positions it as a major player in supporting the infrastructure needs of AI and cloud computing growth.