Property Billionaire Warns of Data Center Selloff as Debt Swells

A global wave of mergers and acquisitions is looming among private equity-backed data-center companies as their debt burdens become unmanageable, said Greg Goodman, chief executive officer of Australian industrial property giant Goodman Group.

Goodman Group, which started out with a single industrial building in Sydney in the 1990s, is making a hard pivot to data centers, building out a global network of sites stretching from Los Angeles and Paris to Tokyo and Hong Kong. The company is among legions of businesses worldwide racing to provide infrastructure for an artificial intelligence boom that will consume trillions of dollars.