Apollo Funds agrees to buy majority stake in Stream Data Centers

Apollo APO said on Wednesday that funds managed by it had agreed to buy a majority interest in Stream Data Centers (SDC), as part of a bet on rising demand for digital infrastructure fueled by artificial intelligence and cloud computing.

"With Apollo's backing, SDC is positioned to execute on a multi-gigawatt pipeline, while enabling Apollo Funds and affiliates to potentially deploy billions of dollars into next-generation digital infrastructure," the company said in a statement.