stack infrastructure

overview

STACK Infrastructure is a leading global developer and operator of hyperscale data centers, providing powered land and scalable AI/ML and cloud density solutions. The company serves as the digital infrastructure partner to the world’s most innovative companies, focusing on wholesale colocation and build-to-suit campuses for hyperscale clients.

business model

Wholesale data center development and operations with a focus on hyperscale, build-to-suit campuses. STACK provides rack-ready wholesale space for immediate delivery, rapid development of data halls for larger requirements, and build-to-suit projects for entire campuses. Revenue model based on long-term leases to hyperscale cloud providers and AI/ML infrastructure operators.

data center profile

global footprint

us portfolio (from database)

projects by state

specialization

primary focus: hyperscale, wholesale, ai-ml, cloud

key differentiators:

• Rapid development and delivery capabilities

• Build-to-suit hyperscale campus expertise

• Global footprint across Americas, EMEA, and APAC

• Strong financial backing from IPI Partners

• 100% renewable energy commitment

financial highlights

strategy

corporate strategy

STACK positions itself as the trusted global partner in digital infrastructure, delivering scalable AI/ML and cloud data center solutions with speed, scale, certainty, and responsibility. The company focuses on hyperscale wholesale and build-to-suit development, targeting the largest cloud providers and AI infrastructure operators with multi-gigawatt campus solutions.

growth strategy

Aggressive expansion strategy combining organic development of new campuses with strategic acquisitions of data center portfolios. STACK has grown from 8 data centers (100 MW) in 2019 to 2.5+ GW built or under development with an additional 4.0+ GW planned (total pipeline of 6.5+ GW). The company pursues geographic diversification across Americas, EMEA, and APAC regions, focusing on markets with strong power availability, fiber connectivity, and proximity to hyperscale demand centers. Rapid deployment capabilities enable STACK to compete for massive build-to-suit opportunities like the $165B Project Jupiter.

power strategy

Comprehensive power strategy combining grid connections, on-site generation, renewable energy procurement, and microgrid solutions. STACK works with utility providers to secure dedicated substations for major campuses while also developing on-site generation capabilities for large-scale projects.

renewable commitment: 100% renewable energy commitment for all current and future STACK markets by end of 2021, maintained across all new developments

major commitments

partnerships

power providers

technology partners

NVIDIA (GPU computing infrastructure) : Project Jupiter deployment for AI/ML workloads - NVIDIA GPUs expected for OpenAI infrastructure

Closed-loop cooling vendors (Liquid cooling systems) : Advanced closed-loop water cooling systems for high-density AI workloads, operated successfully in Oregon, Chicago, Virginia for 5+ years

Flō Networks (Fiber connectivity) : Fiber connectivity provider for Project Jupiter

financial partnerships

leadership

Brian Cox

CEO, STACK Americas and Interim CEO, STACK EMEA

Over 25 years of data center industry and operational experience. Previously COO and CFO at Cologix, where he grew the business from a startup with one data center into an international platform with 25 locations across the U.S. and Canada. Prior roles include CFO at Tempo Financial Holdings Corporation.

Brings extensive hyperscale data center experience from scaling Cologix. Leadership critical to STACK’s rapid growth from 100 MW to 6.5+ GW pipeline.

Matt VanderZanden

President, STACK Americas

Key operational leadership for STACK’s largest regional business during critical expansion phase

John Eland

Chief Executive Officer, STACK EMEA

Leads STACK’s expansion across Europe including Oslo, Stockholm, Copenhagen, Milan markets

competitive position

Leading hyperscale-focused data center developer with strong growth trajectory. STACK positions as a top-tier wholesale and build-to-suit partner competing with the largest global operators. Selection as development partner for $165B Project Jupiter (largest individual Stargate project) demonstrates competitive strength in hyperscale segment.

strengths

• Rapid development and delivery capabilities - proven ability to execute large-scale build-to-suit projects

• Strong financial backing from IPI Partners with $20B+ debt capital raised

• Global footprint across three regions (Americas, EMEA, APAC) providing geographic diversification

• 100% renewable energy commitment differentiates in sustainability-focused market

• Advanced cooling technology for high-density AI/ML workloads

opportunities

• Explosive AI/ML infrastructure demand driving need for high-density, large-scale campuses

• Project Jupiter success could establish STACK as premier AI data center developer

• Stargate Initiative expanding to 10 GW creates potential for additional partnerships

• Geographic expansion in high-growth APAC markets (Tokyo, Osaka, Malaysia, Australia)

• Increasing hyperscale customer preference for wholesale and build-to-suit over retail colocation

threats

• Intense competition from established operators (Equinix, Digital Realty, CyrusOne, QTS, Vantage)

• Power availability constraints in key markets limiting expansion

• Rising construction costs and supply chain challenges

• Interest rate increases affecting debt financing costs

• Regulatory opposition to large data centers due to water and power concerns

projects

sources

• STACK Infrastructure - Official Website

• STACK Infrastructure (2025)

• Meet Our Data Center Company Leaders

• STACK Infrastructure (2025)

• STACK Infrastructure Reinforces Responsible Development Principles through Project Jupiter in New Mexico

• STACK Infrastructure (2025-08-29)

• STACK Infrastructure and BorderPlex Digital Announce Cumulative $56.9 Million in Water and Community Commitments

• STACK Infrastructure (2025-09-15)

• STACK Infrastructure Secures $4 Billion in Green Financing

• STACK Infrastructure (2025-03)

• STACK Infrastructure Appoints Matt VanderZanden as President

• STACK Infrastructure (2025-02-20)

• STACK Infrastructure Appoints Brian Cox as Chief Executive Officer

• STACK Infrastructure (2018)

• STACK Infrastructure Announces New Sustainability Initiatives

• STACK Infrastructure (2021-05)

• STACK Infrastructure Announces the Issuance of $290M in Third Structured Debt Financing of 2023

• STACK Infrastructure (2023-11-15)

• STACK Infrastructure Closes $240M in Latest Green Structured Debt Financing

• STACK Infrastructure (2024-03-21)