vantage data centers

overview

Vantage Data Centers is a leading global provider of hyperscale data center campuses, specializing in wholesale colocation solutions for cloud providers, hyperscalers, and large enterprises. The company designs, builds, and operates mega-scale data center campuses optimized for AI and cloud workloads, with a focus on rapid deployment, operational efficiency, and sustainability. Vantage operates across five continents with a multi-gigawatt development pipeline supporting the world’s most demanding digital infrastructure requirements.

business model

Vantage operates a wholesale hyperscale data center platform focused on long-term lease agreements with major cloud providers and hyperscale customers. The company acquires land with abundant power availability, develops campus-scale infrastructure (typically 100+ MW per campus), and delivers fully commissioned data center facilities on accelerated timelines. Revenue is generated through multi-year wholesale lease agreements for entire buildings or large blocks of capacity, with customers typically signing 10-15 year contracts. Vantage’s build-to-suit and rack-ready models allow hyperscale customers to deploy at scale without the capital intensity of self-build, while Vantage benefits from long-term contracted revenue and relationship depth with the world’s largest technology companies.

data center profile

global footprint

us portfolio (from database)

projects by state

specialization

primary focus: hyperscale, wholesale, ai-ml

key differentiators:

• Campus-scale development expertise with multi-gigawatt pipeline

• Accelerated delivery timelines - buildings online in 12-18 months

• Ultra high-density support up to 250kW+ per rack with liquid cooling

• Strategic land banking in power-rich markets ahead of demand

• Flexible delivery models: Build-to-Suit, Rack Ready, Whitespace

financial highlights

strategy

corporate strategy

Vantage’s corporate strategy centers on becoming the global hyperscale infrastructure partner of choice by delivering mega-scale data center campuses in markets with abundant, reliable power. The company focuses on speed-to-market, operational excellence, and capital efficiency through strategic partnerships with financial sponsors. Vantage’s approach emphasizes land banking in power-rich geographies before demand peaks, enabling rapid deployment when hyperscale customers need capacity. The company targets long-term relationships with the world’s largest cloud and technology companies through superior operational performance, flexible delivery models, and commitment to sustainability. Vantage positions itself as a growth platform for AI infrastructure, recognizing the exponential power demands of GPU computing and positioning campuses to support ultra high-density deployments.

growth strategy

Vantage pursues aggressive global expansion through multiple vectors: (1) Geographic expansion - entered 8 new markets in 2023-2024 including Nevada, Ohio, Taiwan, and Malaysia, with continued EMEA and APAC build-out, (2) Capital deployment - raised $13B in 2024 alone ($9.2B equity from DigitalBridge/Silver Lake, €820M European ABS, $1.6B APAC expansion), total$24B+ raised since 2023, (3) Strategic acquisitions - 4Degrees Colocation (Canada, 2019), Yondr Johor campus (Malaysia, 2025), (4) Mega-campus development - Frontier ($25B, 1.4GW), Nevada ($3B, 224MW), Ohio ($2B+, 192MW) representing new generation of billion-dollar+ single campuses, (5) AI positioning - focusing campus designs on 200kW+ rack densities with liquid cooling to capture AI/ML infrastructure wave, (6) Power innovation - VoltaGrid partnership for 1GW+ natural gas microgrid deployment addressing grid constraints. Company targets expanding from 2.6GW to multi-gigawatt portfolio over next 3-5 years.

power strategy

Vantage prioritizes power-rich markets and proactive power procurement as the foundation of its site selection and campus development strategy. The company identifies geographies with abundant utility capacity, favorable regulatory environments, and renewable energy access before competitors saturate the market. Vantage works closely with local utilities to secure multi-hundred megawatt allocations, often partnering on substation and transmission infrastructure investments.

renewable commitment: Vantage committed to reach net zero operational carbon emissions by 2030. The company provides renewable energy options to customers at all campuses globally, with 10 locations across North America and EMEA powered in part by renewables from hydro, tidal, and wind sources. Four campuses (Quebec City, Montreal I & II in Canada, and Cardiff UK) are powered by more than 99% renewable energy for critical IT load through utility partners. Vantage partners with utilities for green power purchases and renewable energy credits, and pursues LEED certification for major campuses including Frontier in Texas.

major commitments

partnerships

power providers

technology partners

VoltaGrid (Power generation and microgrids) : Natural gas microgrid technology for 1GW+ prime power deployment with rapid installation, 98% emissions reduction, and hydrogen-ready capability

Digital Building Components (Prefabrication) : Strategic partner to DPR Construction providing prefabricated wall panels enabling schedule acceleration through concurrent offsite production

financial partnerships

leadership

Sureel Choksi

President & Chief Executive Officer

Sureel Choksi has served as President and CEO since July 2013, transforming Vantage from a regional data center owner and operator to one of the fastest growing global providers. He has more than 22 years of experience in internet infrastructure. Prior to Vantage, Choksi was an operating executive at Silver Lake Partners and CEO of Elevation Data Centers. He also held several executive roles at Level 3 Communications, including Chief Marketing Officer, Chief Financial Officer, President of Wholesale Markets, EVP of Services, Group VP of Corporate Development, and Treasurer.

Long-tenured CEO who has led company through transformational growth from single Silicon Valley campus to global 2.6GW platform across 5 continents. Recruited by Silver Lake in 2013 and has overseen $24B+ in capital raises since 2023. Deep internet infrastructure expertise and relationships with hyperscale customers.

Jeff Tench

President, North America

Jeff Tench serves as President of Vantage Data Centers in North America, overseeing the company’s business in the U.S. and Canada. He has more than 25 years of experience across technology, telecommunications, and IT services sectors. Previously, Tench was global head of the Microsoft Business Group at Cognizant. He also founded New Signature, a leading Microsoft Azure consultancy, which was acquired by Cognizant in 2016.

Leads North America region which represents majority of Vantage’s portfolio including massive Frontier, Nevada, Ohio, and Virginia campuses. Deep Microsoft/Azure relationship from previous roles positions Vantage for hyperscale cloud partnerships.

Antoine Boniface

President, Europe

Antoine Boniface serves as President of Vantage Data Centers in Europe with more than 12 years of experience in the data center industry. He was previously CEO and co-founder of Etix Everywhere, where he raised over €100 million in equity and expanded the company’s footprint across Europe and emerging markets.

Leads European expansion backed by €1.5B AustralianSuper investment. Proven track record scaling data center platforms across Europe and emerging markets. Critical to EMEA growth strategy spanning 6+ countries.

competitive position

Vantage Data Centers is a leading global hyperscale data center provider positioned as a top-tier wholesale operator alongside Digital Realty, Equinix, CyrusOne, QTS, and STACK Infrastructure. The company ranks among the largest colocation providers developing facilities over 15 MW in the U.S. hyperscale market. Vantage has differentiated itself through aggressive geographic expansion (5 continents, 14 countries, 21 markets) and focus on mega-campus development with billion-dollar+ single projects like Frontier ($25B, 1.4GW) representing the new generation of hyperscale infrastructure. With 2.6GW capacity and$13B raised in 2024 alone, Vantage is positioned as one of the fastest-growing platforms in the industry, benefiting from strong private equity backing (DigitalBridge, Silver Lake, AustralianSuper) and deep relationships with hyperscale customers.

strengths

• Exceptional financial strength with $13B raised in 2024,$24B+ total since 2023, enabling aggressive expansion

• Strong private equity sponsorship (DigitalBridge, Silver Lake, AustralianSuper, GIC, ADIA) providing capital and strategic support

• Geographic diversification across 5 continents reducing concentration risk and accessing global hyperscale demand

• Power-rich market positioning in Nevada, Ohio, Texas, Quebec, and other locations with abundant capacity

• Mega-campus development expertise with Frontier ($25B, 1.4GW) as largest single data center investment globally

opportunities

• AI infrastructure boom driving unprecedented demand for high-density GPU facilities

• Power constraints in traditional markets (Northern Virginia, Silicon Valley) favoring power-rich Vantage locations

• Hyperscale customers seeking alternatives to self-build to accelerate deployment timelines

• APAC expansion with 1GW capacity and $1.6B backing in highest-growth region globally

• EMEA growth with AustralianSuper €1.5B investment and data sovereignty tailwinds

threats

• Hyperscalers building owned infrastructure (AWS, Microsoft, Google self-build) reducing third-party demand

• Power supply constraints globally limiting site options despite power-rich strategy

• Rising construction costs and supply chain disruptions impacting project economics

• Competition from well-funded peers (Digital Realty $9B pipeline, Aligned, STACK, EdgeCore)

• Regulatory challenges around energy consumption, water use, and environmental impact

projects

sources

• Company Overview - Vantage Data Centers

• Vantage Data Centers

• Leadership Team - Vantage Data Centers

• Vantage Data Centers

• Vantage Data Centers Unveils Plans for ‘Frontier,’ a $25B Mega-campus in Texas to Meet Unprecedented AI Demand

• Vantage Data Centers (2025-08)

• Vantage Data Centers Completes $9.2 Billion Equity Investment Led by DigitalBridge and Silver Lake

• DigitalBridge (2024-06-13)

• Vantage Data Centers Announces $6.4 Billion Equity Investment Led by DigitalBridge and Silver Lake

• DigitalBridge (2024-01-09)

• DigitalBridge-Backed Portfolio Company Vantage Data Centers Launches $25 Billion Texas ‘Frontier’ Mega-Campus

• DigitalBridge (2025-08)

• AustralianSuper Backs Vantage Data Centers with €1.5 Billion Investment and Joins DigitalBridge as Key Shareholder

• DigitalBridge (2023-09-11)

• Vantage Data Centers’ Growth Continued in 2024 Driven by AI and Cloud Adoption; Secured a Record $13 Billion in Incremental Funding

• Vantage Data Centers (2025-01-30)

• Vantage Data Centers Experienced Unprecedented Growth in 2023 Driven by AI and Cloud Demand Globally; Secured $10 Billion in Incremental Funding

• Vantage Data Centers (2024-01)

• Vantage Data Centers Invests $3 Billion to Deliver AI Campus in Growing Nevada Market

• Vantage Data Centers (2025-07-15)