CNBC: Stonepeak CEO Michael Dorrell on Keeping Up with AI Demand
Stonepeak Chairman, CEO and Co-Founder Michael Dorrell joined CNBC’s Squawk Box to discuss all things digital infrastructure, including the AI- and cloud-driven data center opportunity, the ongoing challenge of land and power availability in the U.S., and other recent developments in the sector.
Stonepeak’s approach to identifying attractive data center investments in today’s exuberant environment was front and center during the discussion. “What we really look for,” Michael said, “is businesses [and assets] that have big competitive moats.” These include interconnection-focused data centers, which support many retail and wholesale customers and tend to be located in dense, urban areas with a strong ecosystem of large enterprises and proximity to fiber networks. Today, the proliferation of AI applications is driving additional demand for hyperscale data centers, which are much larger facilities typically dedicated to one customer.
As of 2025, Stonepeak is invested in five data center platforms around the world, including Cologix and CoreSite in North America, Cirion in Latin America, and Digital Edge and GTA in the Asia Pacific region. In total, our portfolio consists of more than 100 facilities with more than 500 MW of collective capacity and a pipeline of nearly 400 MW of capacity under development. Learn more about our approach to digital infrastructure here.