A consortium backed by BlackRock and IFM Investors has entered exclusive talks to acquire the Asia-Pacific data-center portfolio of Stack Infrastructure in a potential transaction worth as much as $25 billion.
The investor group includes the BlackRock-backed Artificial Intelligence Infrastructure Partnership and IFM and is preparing to conduct due diligence on the assets. The portfolio could be valued at approximately $20 billion to $25 billion.
Because discussions remain ongoing and due diligence is still ahead, a completed transaction is not assured.
The scale highlights how the artificial-intelligence investment cycle is spreading beyond semiconductor companies and cloud providers into the physical infrastructure required to operate increasingly compute-intensive systems.
Data centers require enormous amounts of capital for land, buildings, electrical infrastructure, cooling, networking and access to reliable power. That has made large infrastructure investors increasingly important sources of financing for AI expansion.
The transaction would also underscore growing investor interest in Asia-Pacific digital infrastructure as demand for cloud computing and AI capacity expands across the region.
Markets will now watch whether negotiations produce a definitive agreement, the final valuation and financing structure, and whether infrastructure funds continue competing aggressively for large-scale data-center assets.
