Blackstone and Digital Realty to invest $7 billion in hyperscale data centers across Europe and Northern Virginia

New York and San Francisco, Blackstone Inc. (NYSE: BX) and Digital Realty (NYSE: DLR) have announced a strategic joint venture with plans to build four hyperscale data center campuses in key global locations, in response to the growing demand for data centers. capacity driven by cloud services and advances in artificial intelligence (AI).

With an estimated cost of almost $7 billion, Blackstone will invest $700 million in this ambitious project to obtain an 80% stake, while Digital Realty will retain the remaining 20%. The new data centers are expected to provide approximately 500 megawatts (MW) of IT charging capacity over the next few years.

Expand digital infrastructure to meet growing demand

The development of facilities totaling 46 MW is already underway, of which a third is pre-leased to customers. This initial phase represents a significant step towards expanding the capabilities of global digital infrastructure to accommodate the increasing demand for data processing, storage and connectivity.

Andy Power, CEO of Digital Realty, expressed confidence that the collaboration with Blackstone will significantly meet clients’ growing needs for hyperscale infrastructure, backed by significant private equity funds. The move comes at a time when companies across various industries are increasingly relying on hyperscale data centers to support their digital operations, particularly in the realms of cloud computing and artificial intelligence.

Jon Gray, chief operating officer at Blackstone, highlighted the growing demand for hyperscale data centers as a direct result of increased adoption of cloud and innovations in artificial intelligence. As organizations leverage cloud services and harness the power of AI for data analysis and decision making, the need for secure, scalable and efficient data center facilities has become paramount.

The global reach of the joint venture

The joint venture between Blackstone and Digital Realty will have a global impact, with data center campuses planned in key strategic locations. Frankfurt, Paris and Northern Virginia have been identified as prime sites for development, placing these hyperscale facilities at the heart of some of the world’s most interconnected organizations that depend on high-performance data center services to meet customer needs. demands of an increasingly digital world and>DIGITAL® Platform: Critical operational management

To ensure smooth operation and management of the new data center developments, the global platform known as PlatformDIGITAL®, operated by Digital Realty, will play a critical role. PlatformDIGITAL® is designed to provide robust and reliable operational management solutions for data centers, improving efficiency, security and scalability for companies that depend on these facilities.

Legal advice for this company is provided by Latham & Watkins for Digital Realty and Simpson Thacher & Bartlett LLP for Blackstone. These legal teams are working diligently to navigate the complex regulatory landscape and facilitate the successful execution of this strategic joint venture.

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