QTS Data Centers: Blackstone claims a data center portfolio of $55bn

Jul 25, 2024 | Posted by Abdul-Rahman Oladimeji

Investment management company Blackstone in its latest earnings call mentioned that it has more than $70 billion in prospective data center pipeline development and over $70 billion in prospective data center pipeline development. 

CEO Stephen Schwarzman said that "the consequences of AI are as profound as what occurred in 1880 when Thomas Edison patented the electric light bulb." He added that "while it took years to develop commercially viable products, the subsequent build-out of the electric grid over the following decades has parallels to the creation of data centers today to power the AI revolution."

Stephen Schwarzman said:  "The need to provide power for these data centers is a major contributor to an expected 40 percent increase in electricity demand in the United States over the next decade compared to minimal growth in the last decade. Our portfolio today consists of $55bn of data centers, including facilities under construction, along with over $70bn in prospective pipeline development. Our largest data center portfolio company, QTS, has grown lease capacity seven times since we took it private in 2021."