Related Digital
Related Digital is a vertically integrated data center development and investment platform founded by Related Companies in 2025 that builds gigawatt-scale, purpose-built campuses for AI and cloud hyperscalers including Oracle, OpenAI, CoreWeave, and Google.
- Company typePrivate
- Founded2025
- HeadquartersDallas, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Related Digital does
Related Digital is a vertically integrated data center development and investment platform founded in March 2025 by Related Companies, one of the largest privately-owned real estate developers in the United States. The company develops gigawatt-scale, purpose-built data center campuses for hyperscale AI and cloud technology companies under long-term lease agreements, with anchor tenants currently including Oracle, OpenAI, CoreWeave, and Google. Its disclosed development pipeline is valued at $45 billion and encompasses more than 5 GW of near-term power capacity across Ontario, Michigan, Illinois, Missouri, Wyoming, and Texas.
The platform's core offering spans the full data center development lifecycle — site selection, land acquisition, entitlements, design, construction management, steel fabrication, mechanical and BMS contracting, supply chain procurement, and energy infrastructure — performed primarily in-house rather than outsourced. Technical differentiators include closed-loop air-cooled and direct-to-chip liquid cooling systems, magnetic-bearing compressors, LEED-certified building designs, and transmission-level grid connections. Renewable energy is delivered through a strategic partnership with energyRe, an affiliated Related Companies platform with 16 GW of renewable generation operating or under development and 500 miles of transmission assets.
The business model is asset-heavy and capital-intensive: Related Digital commits sponsor capital (initially $500 million from Related Companies) alongside third-party equity (Blackstone) and structured debt (PIMCO, Bank of America) to finance campus development, then captures returns through equity appreciation, development fees, and long-term lease cash flows from anchor tenants. Each project is a single-tenant build-to-suit engagement rather than a multi-tenant colocation product, and pricing is not publicly disclosed. The company reported approximately 4,000 professionals at the Related Companies level (with Related Digital's own team appearing materially smaller), is privately held, and is headquartered in Dallas, Texas.
Related Digital firmographics
Firmographics- Name
- Related Digital
- Legal name
- Related Digital
- Website
- https://related-digital.com
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Related Digital is a vertically integrated data center development and investment platform founded by Related Companies in 2025 that builds gigawatt-scale, purpose-built campuses for AI and cloud hyperscalers including Oracle, OpenAI, CoreWeave, and Google.
- Ownership category
- akta.pro rank
Related Digital industry classification
Industry- Product category
- Hyperscale Data Center Development
- NAICS
- Computer Facilities Management Services (541513)
- SIC
- Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Hyperscale Data Center Campuses (Build-to-Suit) (HDABACAC)
- akta.pro secondary industries
- Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling) (HDABAKAD), Facilities Operations & Maintenance (Power/Cooling/Mechanical) (HDABANAC)
Keywords
Where Related Digital is headquartered
LocationHeadquarters
- HQ city
- Dallas
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Related Digital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Data Center Development and Lease: Related Digital develops purpose-built data center campuses for hyperscale technology companies under long-term lease agreements. Revenue is generated through development fees, equity returns, and ongoing lease payments from anchor tenants like Oracle, OpenAI, and CoreWeave. The company holds ownership stakes in projects and generates returns through equity appreciation and financing structures.
- Equity Investment Returns: Related Digital commits minimum $500 million in sponsor capital and raises additional private capital (up to $8 billion) for data center development. Returns generated through equity participation in completed projects.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Related Digital product offering
Product offeringCore offering
Related Digital is a vertically integrated data center development and investment platform that builds gigawatt-scale, purpose-built data center campuses for hyperscale AI and cloud technology companies under long-term lease agreements. The platform handles site acquisition, entitlements, design, construction management, steel fabrication, mechanical and BMS contracting, supply chain procurement, and integrated clean energy solutions via its affiliate energyRe. The company delivers LEED-certified, sustainability-focused campuses using closed-loop air and direct-to-chip liquid cooling systems, with a $45 billion development pipeline spanning more than 5 GW of near-term power capacity across the United States and Canada.
Product overview
Related Digital is a vertically integrated data center development and investment platform that provides end-to-end services for building AI and cloud hyperscale infrastructure. The company's offerings span the entire data center lifecycle including site acquisition, entitlements, design, construction management, steel fabrication, mechanical and BMS contracting, supply chain procurement, and energy solutions through its strategic partnership with energyRe. The portfolio includes major projects like 'The Barn' in Michigan (1+ GW Oracle/OpenAI Stargate facility), the Cheyenne campus in Wyoming (up to 420 MW for CoreWeave), Montgomery County in Missouri (1.2 GW), the Ontario hyperscale expansion, and the Illinois Quantum & Microelectronics Park in Chicago. Related Digital combines Related Companies' 50-year real estate development expertise with large-scale clean energy solutions to deliver digital infrastructure on accelerated timelines for global hyperscalers.
Differentiator
Problem solved
Functional benefit
Products and services
- Data Center Development Services End-to-end vertically integrated development service for hyperscale AI and cloud technology companies, covering site acquisition and joint ventures, capital raising and financing, entitlements, supply chain procurement, steel fabrication, energy storage, planning, architecture and design, construction management, utility-scale wind and solar generation, and energy transmission and distributed generation.
- The Barn (Saline Township Data Center Campus) A 1+ GW capacity data center campus in Saline Township, Michigan featuring three 550,000 sq ft LEED-certified buildings with closed-loop cooling systems, developed for Oracle and OpenAI as part of the Stargate AI infrastructure initiative.
- Cheyenne Data Center Campus A 115-acre data center campus in Cheyenne, Wyoming delivering up to 420 MW of capacity, with first phase of 184,000 SF delivering 88 MW for CoreWeave under a long-term lease, utilizing high-efficiency air-cooled chillers with minimal water consumption.
- Montgomery County Data Center Campus A 934-acre data center campus in Montgomery County, Missouri delivering 1.2 GW of utility capacity utilizing closed-loop air-cooled systems for an American technology company with power supplied via the Ameren Missouri Capacity Commitment Framework.
- Ontario Hyperscale Data Center Expansion A 54-64 MW hyperscale data center expansion in Cambridge, Ontario, Canada, pre-leased to a leading hyperscale customer; Related Digital's first North American data center development project.
- Illinois Quantum and Microelectronics Park (IQMP) A 128-acre quantum innovation campus in Chicago at the former U.S. Steel South Works site, part of a broader 400+ acre development with 1 GW of data center capacity on the north side, with PsiQuantum as anchor tenant.
Quantifiable outcome
- Delivers 1+ GW capacity campus in approximately 1 year from groundbreaking
- +5 more outcomes
Companies that use Related Digital
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
Related Digital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Related Digital partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered major and core.
- GooglemajorGoogle announced a $15 billion investment in Missouri, including a data center campus in New Florence developed by Related Digital on a 934-acre plot targeting 1.2 GW of capacity. Related Digital is the developer for Google's Missouri project.
- Ameren MissouricoreAmeren Missouri is the utility partner for Related Digital's Montgomery County, Missouri data center project, providing 500 MW of new power capacity through a Capacity Commitment Framework.
- WalbridgecoreWalbridge, a Detroit-based construction firm founded in 1916, serves as general contractor for Related Digital's $16 billion Saline Township data center - the largest project in Walbridge's 110-year history. Walbridge's century-long relationships with Michigan's building trades made the project labor agreement possible.
- DTE EnergycoreDTE Energy is supplying 100% of the power to the Saline Township project using existing resources augmented by new battery storage investment financed entirely by the project. DTE serves as the exclusive utility provider for the Michigan campus.
- OraclecoreOracle is the anchor tenant for Related Digital's Saline Township, Michigan data center campus as part of the Stargate AI infrastructure initiative with OpenAI. The 1+ GW facility is designed to power Oracle's AI business.
- OpenAIcoreOpenAI is a key partner in the Stargate initiative, with Related Digital developing the Michigan campus as part of the $500 billion program to build approximately 10 GW of data center capacity across the US and globally.
- CoreWeavecoreCoreWeave is the anchor tenant for Related Digital's Cheyenne, Wyoming data center campus with an initial 88 MW commitment (up to 302 MW/420 MW when fully built out). AI hyperscaler under long-term lease agreement.
- Black Hills EnergycoreBlack Hills Energy delivers power to Related Digital's Cheyenne facility under Wyoming's large-load tariff, ensuring 100% cost coverage by the data center with no impact to local retail customers.
- energyRecoreenergyRe is an affiliated renewable energy company founded by Related Companies principals with more than 80 projects, $35 billion investment pipeline, 16 GW of generation operating or under development, and 500 miles of transmission. Provides complete renewable energy solutions for Related Digital data centers.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
Related Digital competitors and assessment
Company assessmentDirect peers
- EdgeConneX: Private data center developer operating hyperscale and edge campuses globally, with comparable focus on AI and cloud anchor tenants and large-scale build-to-suit projects.
- CyrusOne: Hyperscale-focused data center developer/operator with similar enterprise-leasing model and AI/cloud tenant base. Highly comparable: Related Digital's CEO Brent Behrman was previously CSO at CyrusOne, and several VPs also came from CyrusOne — directly indicating cultural and operational overlap.
- Vantage Data Centers: Vertically integrated hyperscale data center developer operating gigawatt-scale campuses across North America, Europe and APAC with a similar build-to-lease model targeting AI and cloud hyperscalers.
- Aligned Energy: Hyperscale and enterprise data center provider with proprietary adaptive cooling technology and long-term leases to AI/cloud customers — directly comparable in cooling-tech differentiation and tenant profile.
- Stack Infrastructure: Hyperscale-focused data center developer backed by IPI Partners (similar private capital structure) building multi-hundred-megawatt campuses for AI and cloud tenants across the US.
- Compass Datacenters: Hyperscale data center developer specializing in wholesale build-to-lease campuses for cloud and AI tenants. Multiple Related Digital executives (Tim Wakely, John Shine) came from Compass, signaling close operational and customer overlap.
Broad incumbents
- Digital Realty: Largest publicly-traded global data center REIT offering colocation, interconnection and hyperscale wholesale. Comparable on the hyperscale wholesale side but operates as a mature incumbent with a much broader product portfolio across 25+ countries.
- Equinix: Global data center and interconnection incumbent with the largest retail colocation footprint. Overlaps with Related Digital only in serving large enterprise and cloud workloads, but Equinix's model is interconnection-led rather than build-to-lease hyperscale campuses.
- QTS (Blackstone-owned): Hyperscale and enterprise data center operator now owned by Blackstone (the same equity partner on Related Digital's Michigan project). Highly relevant as both a peer and a competing deployment channel for Blackstone's hyperscale capital.
Emerging players
- Prologis Data Centers: Industrial REIT expanding into data center development, having hired Erik Egger to lead data center site selection and buildout before he joined Related Digital. Comparable as a logistics/real-estate incumbent pivoting into power-constrained hyperscale development.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Related Digital social profiles
Digital presenceRelated Digital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Related Digital leadership team
Management profileNumber of profiles
Profiles9 records
Related Digital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Related Digital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Related Digital
What does Related Digital do?
Related Digital is a vertically integrated data center development and investment platform that builds gigawatt-scale, purpose-built data center campuses for hyperscale AI and cloud technology companies under long-term lease agreements. The platform handles site acquisition, entitlements, design, construction management, steel fabrication, mechanical and BMS contracting, supply chain procurement, and integrated clean energy solutions via its affiliate energyRe. The company delivers LEED-certified, sustainability-focused campuses using closed-loop air and direct-to-chip liquid cooling systems, with a $45 billion development pipeline spanning more than 5 GW of near-term power capacity across the United States and Canada.
Is Related Digital a public or private company?
Related Digital is a private company. It is classified as corporate owned and is currently operating.
When was Related Digital founded?
Related Digital was founded in 2025. It employs 1,001 to 5,000 people.
Where is Related Digital based?
Related Digital is headquartered in Dallas, United States, in the North America region.
How does Related Digital make money?
Two revenue lines are on record. Data Center Development and Lease is the primary driver. The others are equity Investment Returns.
Who are Related Digital's main competitors?
Direct peers on record are EdgeConneX, CyrusOne, Vantage Data Centers, Aligned Energy, Stack Infrastructure and Compass Datacenters. Broad incumbents are Digital Realty, Equinix and QTS (Blackstone-owned). Prologis Data Centers is listed as an emerging player.
Does Related Digital have an API?
No public API is recorded for Related Digital.
What industry is Related Digital in?
Related Digital's product category is Hyperscale Data Center Development. Its primary akta.pro industry code is HDABACAC, Hyperscale Data Center Campuses (Build-to-Suit), with a secondary code of HDABAKAD, Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling). Its NAICS code is 541513 and its SIC code is 7373.