AdvertisementAdvertisementBusiness06 Aug 2025 08:17PM (Updated: 06 Aug 2025 08:56PM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST NEW YORK :Apollo agreed to buy a majority interest in Stream Data Centers (SDC), the alternative asset manager said on Wednesday, in a bet on rising demand for digital infrastructure fueled by artificial intelligence and cloud computing.Investors are lining up to put money into data centers, as demand for computing power soars. The physical centers for computing machines and other hardware could require spending of up to $6.7 trillion worldwide by 2030, consultancy McKinsey estimates.SDC builds, leases, manages and operates huge campuses and has delivered more than 20 to date, Apollo said in a statement."With Apollo's backing, SDC is positioned to execute on a multi-gigawatt pipeline, while enabling Apollo Funds and affiliates to potentially deploy billions of dollars into next-generation digital infrastructure," it added.Other asset managers, including Blackstone, KKR and BlackRock, have committed billions of dollars to the sector. Blackstone spent $10 billion to take data center operator QTS private in 2021.SDC's management team will maintain a minority stake and keep leading the business, the statement said.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST