Paving the way for the "Stargate"? SoftBank plans to acquire DigitalBridge, targeting data center assets worth hundreds of billions.

SoftBank Group is in advanced talks to acquire data center investment firm DigitalBridge Group, aiming to gain control of over $100 billion in data center assets under its management. **This move is seen as a key strategic step for SoftBank to advance its “Stargate” AI computing power project and strengthen its data infrastructure deployments.** On December 29, according to media citing sources, the transaction could be officially announced as soon as Monday. So far, both parties have not disclosed specific terms, and the final agreement has not been reached—details, including the schedule, may still change. The market responded positively to the deal. DigitalBridge shares surged 45% in pre-market trading. The company’s current market value is about $2.5 billion, and its enterprise value including debt is $3.8 billion. ### Securing Hundred-Billion-Level Data Center Assets DigitalBridge Group is a private equity firm investing in data center and similar assets, led by CEO Marc Ganzi. As of the end of September, the company managed approximately $108 billion in assets. If the acquisition goes through, **SoftBank will directly take over DigitalBridge’s $100 billion-level data center asset portfolio, which includes operators such as Switch and Vantage Data Centers, significantly enhancing SoftBank’s strategic presence in fundamental AI computing power resources.** This is not SoftBank’s first foray into asset management. In 2017, SoftBank acquired Fortress Investment for over $3 billion, and in 2024 sold its stake to a consortium including Abu Dhabi's sovereign wealth fund Mubadala and Fortress management. ### “Stargate” Project Progresses Slowly Driven by founder Masayoshi Son, SoftBank is determined to seize the opportunity created by surging computing demand from the AI wave. In January this year, SoftBank announced a partnership with OpenAI, Oracle, and Abu Dhabi AI investment platform MGX, launching the $500 billion “Stargate” project to build data centers in the United States. Though Masayoshi Son promised an immediate $100 billion investment, actual project advancement has lagged expectations, partly due to differences on data center site selection. Bloomberg reported in May that SoftBank initially planned to bring in insurance companies, pension funds, and other long-term investment funds as outside financiers. However, progress has fallen short of expectations, affected by market volatility, rising uncertainty in US trade policy, and some investors’ doubts about the long-term financial value of AI hardware assets. In September, the project saw a breakthrough: OpenAI, Oracle, and SoftBank announced plans to build five new data center sites in Texas, New Mexico, and Ohio, with total generation capacity reaching 7 gigawatts—equivalent to the electricity usage of a medium-sized city. ### Shuffling Capital to Support AI Investments To advance its AI strategy, SoftBank is reallocating capital. Masayoshi Son admitted this month that, to redirect funds to other AI fields, he had “painfully” sold $5.8 billion worth of Nvidia shares. If it succeeds in acquiring DigitalBridge, SoftBank will gain direct control over more than $100 billion in data center assets. This will not only provide crucial infrastructure support for the “Stargate” project, but also sharply enhance SoftBank’s physical asset edge in broader AI computing strategies. Risk warning and disclaimer The market involves risks, and investments require caution. This article does not constitute personal investment advice nor does it take into account the specific investment goals, financial situations, or needs of individual users. Users should consider whether any opinions, views, or conclusions herein suit their particular circumstances. Any investment based on this article is at your own risk.