What Stream Data Centers does

Stream Data Centers, L.P. is a Dallas-headquartered, privately held developer and operator of wholesale data center campuses, founded in 1999 as the technical real estate affiliate of Stream Realty Partners. The company designs, builds, and operates mission-critical facilities across major U.S. markets — Dallas-Fort Worth, Phoenix (Goodyear), San Antonio, Chicago (Elk Grove Village), Atlanta, and Houston (The Woodlands) — with site selection actively underway in 20+ states including Northern Virginia, Denver, Minneapolis, and Austin. Its core products span Build-to-Suit data centers, the Ready-to-Fit™ powered shell, wholesale colocation, AI-ready hybrid-cooling infrastructure, end-to-end location strategy and site development, and ongoing data center operations. Underlying technology includes proprietary GIS-based site selection tools, a Land Feasibility Assessment methodology vetting sites against hundreds of criteria, a standardized-but-configurable kit of parts replicated across 27 projects since 1999, and a hybrid-cooling platform that supports air cooling today and direct liquid cooling for AI workloads tomorrow.

The company sells exclusively through an enterprise field-sales motion to a narrow customer set that includes Fortune 100 hyperscale technology companies, cloud providers, and the nation's largest commercial banks, with more than 90% of capacity leased to Fortune 100 customers and no early customer terminations in its history. Revenue mechanics mix one-time build-to-suit development revenue with recurring long-term lease and managed operations fees on multi-year hyperscale contracts. In November 2025, Apollo Funds completed a majority-stake acquisition, forming a scaled digital infrastructure platform within the Apollo ecosystem with permanent project financing and a 4+ GW active development pipeline, and a new CEO plus expanded executive bench were installed in early 2026 to absorb accelerated demand.

Name

Stream Data Centers

Legal name

Stream Data Centers, L.P.

Website

https://streamdatacenters.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Stream Data Centers designs, builds, and operates wholesale data center campuses for hyperscale technology companies, cloud providers, and Fortune 100 enterprises across major U.S. markets. Following its 2025 acquisition by Apollo Funds, the company is scaling a 4+ gigawatt development pipeline featuring AI-ready hybrid cooling.

Ownership category

akta.pro rank

Product category

Hyperscale Data Center Development

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Computer Facilities Management Services (541513)

SIC

Services-Facilities Support Management Services (8744)

akta.pro primary industry

Hyperscale Data Center Campuses (Build-to-Suit) (HDABACAC)

akta.pro secondary industries

Enterprise Data Centers & On-Prem Facilities (Owned/Operated) (HDABACAG), Data Center Property Management (BPAJAGAK), Modular & Prefabricated Data Centers (HDABACAH)

Keywords

• Data center development
• Hyperscale colocation
• Build-to-suit data centers
• Wholesale colocation services
• AI-ready data centers

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Build-to-Suit Data Centers: Fully commissioned data centers or powered shells built to customer specifications. Can be developed on multi-building campuses, customer sites, or pre-vetted land sites. Stream can operate the facility or hand over upon completion. Revenue generated from construction and long-term lease arrangements.
2. Wholesale Colocation: Turnkey, move-in ready data center capacity at select locations. Provides rapid deployment capability for customers who cannot wait for new development cycles. Flexible footprint, density, electric topology, power delivery and network configuration. Revenue from recurring colocation fees.
3. Powered Shell Facilities: Fully constructed, secure building with utility power, fiber pathways and core infrastructure already in place, with interior mechanical and electrical systems left open to customer specifications for customization.
4. Location Strategy & Site Development: Comprehensive location strategy services including market assessments, utility capacity analysis, site identification and acquisition, due diligence, zoning and permitting, and utility interconnection coordination.
5. Data Center Operations: Ongoing facility management and operations including training, certifications, customer relationships, and 24/7 critical environment management ensuring 99.999% uptime.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Stream Data Centers develops, builds, and operates hyperscale and enterprise-class data center facilities for Fortune 100 customers, hyperscalers, and cloud providers. Its core offerings include build-to-suit data centers delivered up to 33% faster than market average, wholesale turnkey colocation capacity, AI-ready infrastructure with proprietary hybrid-cooling technology supporting air and liquid cooling, and end-to-end location strategy and site development services. Revenue is generated through colocation fees, construction, long-term leases, professional site services, and managed facility operations.

Product overview

Stream Data Centers offers a comprehensive portfolio of data center solutions organized as an integrated service platform. The core offerings include Location Strategy & Development (using proprietary GIS-based tools for site selection), Build-to-Suit Data Centers (custom facilities delivered 33% faster than market average), AI Readiness (with proprietary hybrid-cooling technology supporting air and liquid cooling), Wholesale Colocation (turnkey move-in ready capacity), and Data Center Operations (ongoing facility management with zero dropped workloads). These are complemented by specific product offerings including the Ready-to-Fit™ Powered Shell (semi-built facilities), Turnkey Colocation (immediate capacity), Energy Procurement Services, and Sustainability Reporting. The company operates as a technical real estate affiliate within the Apollo ecosystem, focusing on hyperscale and enterprise-class data center development across major U.S. markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Location Strategy & Development
• Build-to-Suit Data Centers
• AI Readiness
• Wholesale Colocation
• Data Center Operations
• Ready-to-Fit Powered Shell
• Turnkey Colocation
• Energy Procurement Service

Quantifiable outcome

• Delivered 40+ MW of dedicated data center capacity in 16 months
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Four partnerships are on record, tiered core, minor and major.

• ComEd (Commonwealth Edison)coreStrategic or Co-development Partner · 10 September 2025Stream Data Centers and ComEd broke ground on new substation campus in Elk Grove Village, Illinois. This strategic partnership provides dedicated power infrastructure for Stream's Chicago data center campus, addressing utility capacity constraints in the market.
• GRESBminorStrategic or Co-development Partner · 20 June 2025Stream Data Centers collaborated with GRESB and Infrastructure Masons on a new sustainability assessment, demonstrating commitment to ESG reporting and sustainability benchmarks in real assets.
• Infrastructure Masons (iMasons)majorStrategic or Co-development PartnerStream is affiliated with Infrastructure Masons, a professional organization for digital infrastructure leaders. Stream team members participate in iMasons initiatives and were honored at the iMasons Awards Ceremony in September 2025.
• iMasons Climate AccordmajorStrategic or Co-development PartnerStream Data Centers is a signatory to the iMasons Climate Accord, committing to sustainability and emissions reduction in digital infrastructure development.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Equinix: Global colocation and interconnection leader operating IBX data centers across the Americas, EMEA, and APAC. Comparable in delivering enterprise-grade uptime and connectivity, though Equinix skews more toward retail interconnection while Stream focuses on hyperscale build-to-suit and wholesale.
• Digital Realty Trust: Largest publicly traded data center REIT with a global footprint of hyperscale and enterprise colocation campuses. Directly comparable to Stream as a hyperscale build-to-suit and wholesale colocation provider, though at far greater scale and with a much broader geographic and product portfolio.

Direct peers

• QTS Data Centers: Hyperscale and enterprise colocation provider (acquired by Blackstone for ~$10B) with massive US campus portfolio. Comparable to Stream in targeting hyperscale customers with build-to-suit and wholesale colocation offerings.
• EdgeConneX: Hyperscale and edge data center provider offering build-to-suit and wholesale colocation solutions globally. Comparable in targeting hyperscale, cloud, and content customers with rapidly deployable capacity in Tier 1 through Tier 3 markets.
• Vantage Data Centers: Major hyperscale data center operator with a 4+ GW development pipeline across North America and EMEA, backed by DigitalBridge. Highly comparable to Stream in customer base, scale of pipeline, and focus on AI-ready liquid-cooled facilities.
• Compass Datacenters: Hyperscale-focused data center developer with a standardized, modular "Navigate" design philosophy that closely mirrors Stream's kit-of-parts approach. Both target Fortune 100 and hyperscale customers with build-to-suit and wholesale solutions across multiple US markets.
• Stack Infrastructure: Hyperscale-focused data center developer backed by IPI Partners with deep US footprint and significant development pipeline. Closely comparable to Stream on customer mix, build-to-suit model, and emphasis on AI-ready liquid-cooling capability.
• CyrusOne: Major US hyperscale data center operator (acquired by KKR/GIP for ~$15B) specializing in build-to-suit and wholesale colocation for Fortune 1000 customers. Direct competitor in the same customer segment and product mix as Stream.
• Iron Mountain Data Centers: Hyperscale-ready colocation provider with a growing portfolio of US and international facilities, emphasizing compliance, security, and sustainable operations. Overlaps with Stream in serving enterprise and hyperscale customers with build-to-suit and wholesale solutions.
• DataBank: US colocation and edge data center operator (owned by DigitalBridge) serving enterprise and hyperscale customers. Comparable to Stream in offering build-to-suit, wholesale, and managed data center services with an expanding AI-ready portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/streamdatacentr
• LinkedInlinkedin.com/company/stream-data-centers
• Instagraminstagram.com/streamdatacenters

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stream Data Centers