Blue Owl's Stack weighs $30b Asia data center sale

Stack Infrastructure is a Denver-based data center operator owned by Blue Owl Capital, and it is weighing a partial or full sale of its Asia business that could be valued at more than US$30 billion.

The company has spoken with potential advisers about assets in Australia, Japan, and Malaysia, and talks are preliminary.

Blue Owl said in April that it was limiting withdrawals from two funds after a high level of redemption requests in the first quarter.

Interest in Asia data centers has risen with demand for cloud services, AI, and digital products, and other deals include Bain Capital’s planned sale of at least 40% of Bridge Data Centres at a US$5 billion valuation.

🔗 Source: The Economic Times

🧠 Food for thought

Implications, context, and why it matters.

Blue Owl is shifting funds toward newer US projects

Blue Owl is limiting withdrawals from two funds, yet it is still putting money into US data center projects 1.
The firm has committed US$2.45 billion for a stake in a Meta facility and is developing a US$12 billion campus for Amazon 1.
A sale in Asia would free cash from older holdings and support newer US work 1.
The assets under review include a new 220-megawatt campus in Iskandar Puteri, a district in Johor Bahru, Malaysia. It is built for cloud computing plus AI and machine learning workloads, with first delivery set for the fourth quarter of 2026 2.

Asia’s AI infrastructure is entering a large buildout

The potential US$30 billion transaction sits within a wider wave. More than US$150 billion in AI and data center funding was announced, financed, or advanced across Asia-Pacific in the second half of 2025 3.
Money is moving past single sites into national or cross-border clusters, which some investors call “sovereign AI corridors.” Malaysia’s Johor plan and Indonesia’s Batam push help ease pressure on power-starved Singapore 3.
For hyperscalers, access to electricity now matters more than closeness to big city markets when they pick sites. That group includes large cloud companies such as Amazon, Google, and Microsoft 3.
The region’s AI expansion is now in full construction mode, with limits set mostly by power, water, and permits 3.