Silver Lake plans $400M land venture to power data centers

Private-equity firm Silver Lake plans to launch a $400 million venture to secure powered land for data-center developers and hyperscalers, reports the Wall Street Journal.

The platform is a joint effort with Commonwealth Asset Management principals Adam Fisher and Peter Rumbold, who’ve backed data-center land for nearly a decade.

The joint venture has already secured 3 gigawatts of power and is developing sites in Texas and Georgia. It aims to reach over 6 gigawatts across North America by leveraging utility partnerships and, in some cases, building its own power generation.

Silver Lake’s Lee Wittlinger said securing power is now the biggest barrier to data center growth, not land or GPUs.

Surging demand from AI has strained utilities, with data centers expected to consume over 5 gigawatts by 2030—equivalent to Manhattan’s peak demand.