STACK Infrastructure is a leading global developer and operator of hyperscale and enterprise data centers. Founded in 2019 through the consolidation of Infomart Data Centers and selected T5 Data Centers assets under IPI Partners, STACK has rapidly evolved into a major player in digital infrastructure. The company operates as a privately held entity backed by institutional investors and focuses on delivering scalable, sustainable solutions for cloud service providers, hyperscalers, and large enterprises. Since 2024, STACK has been part of Blue Owl Capital, after it acquired IPI Partners. STACK’s core business revolves around wholesale colocation, build-to-suit campuses, and powered shell facilities designed for high-density computing environments such as AI, machine learning, and cloud workloads. Its investment strategy emphasizes long-term ownership of hyperscale-ready campuses, supported by green financing initiatives and energy-efficient designs. The company has raised over $21 billion in capital since inception, including $1.4 billion in green financing in 2025 to support stabilized hyperscale assets across North America. The portfolio spans 24 global markets with 5.5+ GW built or under development and 7.5+ GW planned capacity, covering North America, EMEA, and APAC. Key U.S. markets include Northern Virginia, Silicon Valley, and Dallas-Fort Worth, which represent significant exposure and concentration risk due to their dominance in hyperscale demand. For example, Northern Virginia alone accounts for multiple campuses exceeding 400 MW in aggregate planned capacity. STACK’s strategic positioning leverages its ability to deliver rapid, large-scale deployments in power-constrained markets, aligning with global trends in AI and cloud adoption while maintaining a strong sustainability focus.