QTS Data Centers x Lumen Technologies (AI Data Center Connectivity)

QTS Data Centers is a hyperscale-focused colocation operator headquartered in the Washington, D.C. metro area and wholly owned by Blackstone since 2021, when the private equity firm's infrastructure arm and BREIT took the former NYSE-listed REIT private for roughly $10 billion. Founded in 2003 by Chad Williams in Overland Park, Kansas, QTS grew from a single Atlanta facility into one of the largest wholesale data center operators in North America, and Blackstone's ownership has accelerated a build-out aimed almost entirely at hyperscale cloud and AI training workloads. The company operates roughly 28 campuses across the United States, the Netherlands, and the United Kingdom, with flagship deployments in Northern Virginia, Dallas/Fort Worth, Atlanta, Hillsboro, Denver, and Manassas. Marquee sites include the Atlanta megacampus (about 278 MW on 99 acres) and Richmond (240 MW+), and the pipeline of announced expansions across Virginia, Phoenix, and Europe has made QTS one of the fastest-growing platforms in the sector under Blackstone's capital. Longtime CEO and founder Chad Williams stepped back in April 2025, and QTS is now run by co-CEOs Tag Greason (previously chief growth officer) and David Robey (previously COO), with Jeff Berson as CFO. The customer base is concentrated in the largest cloud and AI hyperscalers, and the company markets itself primarily on speed of delivery and scale rather than retail colocation.