Good morning. Welcome to Data Center View! In each issue, we cover the top stories, trends, and listings in the data center sector.

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NEWS ROUNDUP

ACQUSITION: I Squared to acquire 10 data centers for $225 million. I Squared Capital has signed a definitive agreement to acquire a portfolio of 10 data center facilities from Cogent Fiber for $225 million in cash, using the deal to seed a new U.S. operating platform focused on colocation, high-density deployments, and AI inference infrastructure. Gautam Bhandari, co-founder, managing partner, and global CIO at I Squared Capital, said the assets stand out because of their location, power, and connectivity, especially as AI demand shifts toward inference workloads that require low-latency, high-density facilities. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals.

DEVELOPMENT: Stack commits at least $73.5B for massive Virginia campus. Stack Infrastructure has committed to invest at least $73.5 billion in a data center campus at the Southern Virginia Megasite in Berry Hill, with local officials approving a performance agreement tied to the project. The project could ultimately span up to 2,990 acres, with land purchases happening in phases and the first phase requiring at least 1,000 acres to close by June 2027.

M&A: DigitalBridge to acquire ArcLight in $1.05 billion deal. DigitalBridge Group has agreed to acquire ArcLight Capital Partners for up to $1.05 billion, combining one of the leading digital infrastructure investors with a major North American power and electric infrastructure platform. DigitalBridge CEO Marc Ganzi said ArcLight’s deep specialization in power infrastructure mirrors DigitalBridge’s approach in digital infrastructure and expands what the combined platform can offer investors and customers. ArcLight founder Daniel Revers said the next phase of infrastructure investing will increasingly require integrated expertise across both power and digital assets, while managing partner Angelo Acconcia said power has become the key bottleneck for digital infrastructure growth.

DEVELOPMENT: Judge halts Minnesota data center construction. A Minnesota judge has temporarily halted construction of a hyperscale data center near Rochester until a lawsuit over the project’s environmental review can be heard.

READ: Americans are losing patience with data centers.

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