Blackstone is expanding its data center footprint due to increased demand driven by artificial intelligence. Lenders are optimistic after Blackstone refinanced 10 data centers owned by subsidiary QTS in a $3.5 billion deal. The firm acquired QTS in 2021 for $10 billion, now operating over 70 data centers with more than three gigawatts of capacity. The latest refinance gives Blackstone more capital for acquisitions or other business segments. Data centers consume 5% of U.S. power, set to double with a $6.7 trillion buildout, leading to higher electricity bills. Tech giants like Meta are investing billions in data centers, making them more lucrative. Lower interest rates make borrowing more affordable for firms like Blackstone, potentially increasing demand for commercial-backed mortgage securities.

Read more at Yahoo Finance: Blackstone Continues To Expand Its Data Center Footprint On The Heels Of A $3.5 Billion Refinancing Deal