Vantage Data Centers: Hyperscale Campus Builder

Taking 19th place on Data Centre Magazine’s Top 100 Data Centre Companies, Vantage Data Centers has positioned itself as a provider of hyperscale data centre campuses at a time when demand for AI infrastructure continues to reshape the industry. The Denver-headquartered company now operates 35 campuses, including operational and under development facilities, across five continents spanning 14 countries and 21 markets.

Founded in 2010, Vantage specialises in building campus-based facilities ranging from 64MW to gigawatt-scale developments. The company targets hyperscalers, cloud providers and large enterprises with rack-ready spaces and build-to-suit solutions. 

In 2024, the company secured more than US$13bn in debt and equity investments across new and existing investors, bringing Vantage's planned and existing global capacity to more than 2.6GW.

The business is backed by a consortium of institutional investors including DigitalBridge Group, Silver Lake, AustralianSuper and PSP Investments. Under President and CEO Sureel Choksi, who took the helm in 2013, Vantage has expanded from a regional operator to a provider with campuses across North America, EMEA and Asia-Pacific.

Texas development marks largest investment

In August 2025, Vantage announced its largest investment to date of over US$25bn to develop a 1.4GW data centre campus in Shackelford County, Texas. The campus, named Frontier and situated on 1,200 acres, will be home to 10 data centres totalling 3.7M square feet and can accommodate ultra-high-density racks of 250kW and above.

Construction on the campus has already begun, with the first building scheduled for delivery in the second half of 2026. The development will utilise liquid cooling to support GPU loads and employ a closed-loop chiller system designed to minimise water usage.

Dana Adams, President of North America at Vantage Data Centers, says: "Texas has become a critical and strategic market for AI providers.

"In particular, the launch of our Frontier campus with 1.4GW of GPU compute capacity marks a watershed moment for Vantage as we deliver on our promise to meet the unprecedented requirements of our customers."

The Texas project follows Vantage's involvement in the Stargate expansion. In October 2025, OpenAI, Oracle and Vantage announced plans to develop a data centre campus outside Milwaukee in Port Washington, Wisconsin, with four data centres providing close to a gigawatt of AI capacity, scheduled for completion in 2028.

"Our investment in Wisconsin reflects the area's strong foundation for digital growth to support sustainable AI innovation at scale," Dana says. "Vantage is committed to being a good neighbour and is prioritising investing in sustainable energy, minimising local impact and partnering closely with the community to be an economic driver for the state."

Financing innovation through securitisation

Vantage has developed a financing model based on asset-backed securitisation transactions. In June 2025, the company raised €640M (US$744M) in securitised term notes, marking the first euro-based securitisation of data centre assets in Continental Europe. The transaction refinanced four data centres in Germany–two in Frankfurt and two in Berlin–all leased to hyperscale customers.

The euro-denominated deal followed Vantage's 2024 sterling-denominated ABS for its Cardiff campus facilities, representing the first data centre ABS in EMEA. The company also pioneered the first data centre ABS in North America.

Sharif Metwalli, Chief Financial Officer of Vantage Data Centers, says: "We believe the ABS market in particular is kind of best suited for our type of asset, which is real estate centric, high credit quality tenants, long term leases, something that is almost perfect for the ABS investor.”

The data centres involved in the German transaction were valued at about US$1bn earlier in 2025 by Scope Ratings.

Vantage Data Centers’ position at number 19 in the highlights the company’s evolution into a global leader at the forefront of hyperscale infrastructure. Through record-breaking investments, pioneering financing models and a clear focus on sustainable, AI-ready developments, Vantage continues to redefine what large-scale digital campuses can achieve. As the demand for high-performance computing accelerates, the company’s expansion strategy and commitment to innovation place it among the most influential players shaping the future of the data centre ecosystem.