US subsidiary · Data centers
Mitsubishi Corp. forms two US data center companies with up to $500 million each
- Parent
- Mitsubishi Corporation (Tokyo)
- New US unit
- Diamond Digital Infrastructure and Diamond DC Rover (new subsidiaries), Delaware
- Value
- Up to $500M in capital for each company
- Status
- Both companies were set up on January 16, 2025 under Mitsubishi Corporation (Americas). Mitsubishi has not named the data center projects they will fund.
- Date
- 2025-02-06
Mitsubishi Corporation set up two Delaware companies, Diamond Digital Infrastructure and its subsidiary Diamond DC Rover, to develop and run data centers across the United States. Each can receive up to $500 million in capital. This follows Mitsubishi's first US data center investment in 2024, a joint venture with Digital Realty for two sites near Dallas.
Why it matters
AI is driving a rush for US data center capacity, and Japanese trading houses want to own the buildings and power behind it, not just supply equipment. Two companies with up to $1 billion of capital between them show Mitsubishi plans more than one-off deals.
The two companies
Both are based in Dover, Delaware. Mitsubishi had to disclose them because each one's planned capital is more than a tenth of Mitsubishi's own capital, which makes it a "specified subsidiary" under Japanese rules.
The Dallas start
In the 2024 Dallas venture, Mitsubishi took 65% for an initial contribution of about $200 million, plus about $65 million for its share of the first phase. Digital Realty kept 35% and runs the sites. The first phase was planned at 16 MW, expandable to 48 MW, and was fully pre-leased to an unnamed S&P 100 company.
A long partnership
Mitsubishi and Digital Realty already run data centers together in Japan through MC Digital Realty, with sites in Tokyo, Inzai and Osaka. Digital Realty's investment chief, Greg Wright, said the Dallas deal extended that partnership into the US.
Sources
Kakehashi M&A News home
