It seems like such a simple question. Who owns data centers?
Ownership structures in the digital economy are more varied than might appear on the surface. While the largest computing and cloud service providers, such as Apple, Amazon (AWS), Microsoft (Azure) and Google (Cloud)—also known as “hyperscalers”—do own and operate a significant portion of their global infrastructure, they are increasingly partnering with third-party developers and investors, including real estate investment trusts (REITs), to expand capacity and deploy capital quickly and efficiently. This article provides a guide to how the most prominent strategic and financial players are engaging in this sector.