The AI boom isn’t coming. It’s here. And we believe it’s reshaping global markets at a scale few are prepared for.
As part of a broader Global Industrial Renaissance, the rapid evolution of AI is driving unprecedented demand for digital infrastructure, from fabs and data centers to next-gen power generation.
The Multi-Trillion-Dollar Opportunity in Digital Infrastructure
What’s at stake? Trillions in capital. And a once-in-a-generation investment opportunity.
CapEx across just four hyperscalers—Alphabet, Amazon, Meta, and Microsoft—is expected to exceed $350 billion in 2025(1). AI infrastructure and compute capacity are leading the charge.
Nearly $3 trillion will be needed to support AI infrastructure through 2028. More than half of that, around $1.5 trillion, will come from external capital. Private credit, particularly asset-backed finance, is expected to contribute over $800 billion.(2)
Digital infrastructure is energy intensive. Global data center demand could drive an additional 90 GW in power needs by 2030. In the US alone, that’s the equivalent of adding three New York Cities to the power grid. Every gigawatt requires approximately $50 billion in infrastructure investment. The result: up to $4.5 trillion in new capital demand by the end of the decade.(3)(4)
This scale and complexity require more than capital – it demands capital with commitment.
How Apollo is Thinking it New
Apollo is built for this moment.
With a broad base of long-dated, flexible capital and decades of infrastructure experience, we believe Apollo is uniquely positioned to support the digital buildout of tomorrow. Since 2022, Apollo-managed funds have deployed approximately $38 billion across next-generation infrastructure, supporting growth in renewables, digital platforms and compute capacity.
And we’re just getting started.
How Apollo Is Powering the Digital Future
As the digital backbone of the economy expands, Apollo-managed funds are scaling their investments alongside it. We’re partnering with companies that are advancing AI and redefining critical infrastructure.
Across the value chain, Apollo is delivering capital where it’s needed most:
Power
- BP: Apollo Partners With BP in Trans Adriatic Pipeline
- WEC Energy Group: Apollo Funds Provide $200 Million to WEC Energy Group Renewable Portfolio
- New Fortress Energy: Apollo Funds’ Joint Venture with New Fortress Energy Formed Energos Infrastructure
- ADNOC: ADNOC and Apollo-led Consortium Enter Into $5.5 Billion Real Estate Investment Partnership
Semiconductors
- Intel: Intel and Apollo Agree to Joint Venture Related to Intel’s Fab 34 in Ireland
- Western Digital: Western Digital Announces $900 Million Convertible Preferred Equity Investment Led by Apollo-Managed Funds
Data Centers
- Stream Data Centers: Apollo Funds to Acquire Majority Stake in Stream Data Centers, Forming a Scaled Digital Infrastructure Leader
- STACK Infrastructure: Apollo Funds to Acquire Pan-European, Highly Interconnected Colocation Data Center Business from STACK Infrastructure
- Yondr: Apollo Infrastructure Funds Announce Structured Investment in Yondr Group
The future of AI needs infrastructure. That infrastructure needs long-duration capital. Apollo is ready.
Watch the video to learn more about how Apollo is financing the Global Industrial Renaissance—and the digital future it’s unlocking.
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Summary
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Transcript
Literature
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Listen to senior executives at Apollo discuss the secular mega-trends including the clean energy transition, power and utilities, data centers, semiconductors and more.
Jim Zelter, President, Apollo Global Management: We are constantly a firm and a group of individuals that’s looking around the corner and saying, not just what is going on today, but what are the dynamics and what are the drivers.
Joseph Jackson, Partner, Credit: Technology is obviously innovating constantly. But the thing that gives Apollo an opportunity to be a large investor is the capital demands of the innovation that's going on.
Christopher Edson, Partner, Global Head of Origination: For different types of solutions, it could be hundreds of billions of dollars needed for the expansion of our technology infrastructure, for the expansion of our energy transition infrastructure.
Carey Lathrop, CEO, ATLAS SP Partners: The capital needs in certain industries, be it data centers, semiconductors, energy, clean transition are going to be immense.
Jim Zelter: Arguably, you could say the number is almost 100 trillion dollars. All these activities, we would tie together as a global industrial renaissance.
Jamshid Ehsani, Partner, Head of Global Principal Structured Finance: We could be a long-term partner providing a quantum of capital that makes a difference.
Natalia Tsitoura, Partner, Capital Solutions: Our interests are very much aligned with…the company that actually wants to continue to grow over time so we can continue to partner with them in order to provide further capital to support their growth.
Christopher Edson: These projects can be ten-plus billion dollars each. And the scale of that is almost too big for the traditional sources of financing to meet. And so having very large-scale providers help provide this directly is really solving these needs.
Olivia Wassenaar, Partner, Head of Sustainability & Infrastructure: There is so much Apollo can do to partner with companies and communities to really help finance this energy transition. It's a journey. It's not going to happen overnight. We want to work with companies to get to where they want to be.
Carey Lathrop: One of the things that is really differentiating is our ability to speak for size, do it with speed, and do it with certainty.
Jim Zelter: You have to be excited about the future when we think about companies that we are trying to finance and help match their aspirations and visions for the future.
To speak to Apollo about financing solutions for your business, reach out to CorporateSolutions@Apollo.com.
Tags
Change is the only constant, and impactful change demands bold investment. Apollo stands as a key financing partner for the most innovative sectors driving our future.
24:20
Marc Rowan breaks down the structural shifts reshaping investing, why private markets are no longer the “alternative,” and how Apollo’s differentiated strategy and long duration capital were built for this moment.
1:39
Jim Zelter cuts through the noise on private markets — challenging outdated perceptions, unpacking credit market trends, and outlining why Apollo is focused on long-duration, predominantly investment-grade credit.
1. Source: The Wall Street Journal ‘Big Tech’s $400 Billion AI Spending Spree Just Got Wall Street’s Blessing’, July 31, 2025.
2. Source: Morgan Stanley ‘Bridging a $1.5trn Data Center Financing Gap’ Report, July 2025.
3. Source: U.S. Census Bureau and United Nations estimates; McKinsey as of December 31, 2023.
4. Source: NYISO 2022, McKinsey, Nextgen, datacenterknowledge.com, Apollo Chief Economist. Note: Current capacity as of 2022, Why invest in the data center economy | McKinsey, Systems - NYC Mayor's Office of Climate and Environmental Justice, Data Center Power: Fueling the Digital Revolution, US data center power consumption to double by 2030 - DCD
