Blackstone Plans to Build Data Centers Worth $25 Billion Across the Globe

Blackstone, the private equity giant, is making a colossal bet on the future, constructing a USD 25 billion empire of data centers across the globe. This ambitious undertaking aims to capitalize on the explosive growth of artificial intelligence (AI), which relies heavily on the vast computing power housed in these high-tech facilities.

QTS, a data center operator that Blackstone acquired in 2021, is at the core of this project. Since then, QTS has seen explosive growth under Blackstone's leadership, with its property value skyrocketing from $1 billion to an impressive $25 billion by the end of 2023. Blackstone's relentless expansion, which has invested billions in building enormous, power-hungry facilities in strategic locations like Phoenix, Virginia, Frankfurt, and Paris, has fueled this meteoric rise.

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However, this ambitious venture faces significant challenges. The vast resources needed for construction and operation raise concerns about environmental impact. The Phoenix data center alone is expected to consume as much electricity as 5 million homes, sparking debates about sustainability and responsible energy use. Additionally, securing permits and overcoming public opposition in densely populated areas can be significant hurdles.

Blackstone's vision extends beyond just building data centers. They aim to create a vertically integrated ecosystem, offering a range of services from cloud computing to data analytics. This holistic approach positions them to capture a larger share of the AI market pie.

About Blackstone

Blackstone is an American multinational alternative investment management company based in New York City. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson, it's the world's largest alternative asset manager, with over $1 trillion in assets under management as of June 2023.

Blackstone is a leading player in private equity, investing in companies across various sectors such as technology, healthcare, and industrials. Some notable examples of Blackstone's private equity investments include Hilton Worldwide, Freescale Semiconductor, and LEG Immobilien.

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