DigitalBridge and the AI Infrastructure Gold Rush: Why SoftBank's Potential Takeout is Just the Beginning

The AI infrastructure sector is undergoing a seismic shift, driven by the insatiable demand for computational power and energy capacity to fuel next-generation artificial intelligence models. At the center of this transformation is DigitalBridge Group Inc. (NYSE: DBRG), a digital infrastructure investor whose strategic assets and financial performance have sparked speculation about a potential acquisition by SoftBank Group Corp. While the immediate focus is on SoftBank's rumored interest, a deeper analysis reveals that DigitalBridge's value proposition extends far beyond a single buyer. Its unique position in the AI infrastructure gold rush-coupled with robust financial metrics and a forward-looking strategy-positions it as a linchpin in the global race to power AI's future.

Strategic Assets: Power as the New Currency in AI

DigitalBridge's most compelling advantage lies in its control of 20.9 gigawatts of ready-to-deploy power capacity across its data center portfolio. In an industry where securing energy for hyperscale AI operations is a multi-year, capital-intensive endeavor, this resource is a critical differentiator. According to a report by Reuters, SoftBank's interest in DigitalBridge is directly tied to this power bank, which aligns with its broader Stargate project-a $500 billion initiative with OpenAI and Oracle to build AI data centers across the U.S. . For SoftBank, acquiring DigitalBridge would not only accelerate its Stargate ambitions but also provide a scalable foundation to support its growing AI ecosystem.

This energy advantage is not merely speculative. DigitalBridge's Q3 2025 results underscore its operational strength: Fee-Related Earnings surged 43% year-over-year to $37.3 million, while Fee-Earning Equity Under Management grew 19% to $40.7 billion. These figures reflect the company's ability to monetize its infrastructure investments in a sector where demand for power and colocation services is outpacing supply.

Valuation Dynamics: A Premium Justified by AI's Long-Term Play

DigitalBridge's valuation has been volatile, with shares rising 45% in a single session amid acquisition rumors. However, its intrinsic value is supported by industry-wide trends. The AI infrastructure sector in 2025 commands elevated multiples, with companies offering API-first models and usage-based pricing fetching 8–12x revenue when demonstrating clear ROI. DigitalBridge, though not a pure-play developer, operates as a critical enabler of these ecosystems by providing the physical and energy infrastructure required for AI to scale.

Comparative metrics highlight its appeal. Microsoft (MSFT), a leader in AI integration, trades at an EV/EBITDA of 21.63 and a P/E of 34.36, while Vertiv (VRTX), a key player in AI cooling solutions, carries a forward EV/EBITDA of 32x. DigitalBridge's current P/E of 88.3x, though high, reflects market expectations of rapid growth. Analysts at RBC Capital argue that its implied fair value of $16.50-compared to a recent closing price of $9.86-leaves room for re-rating even if the SoftBank deal falls through. This premium is justified by its ability to generate fee-related earnings with expanding margins (40% in Q3 2025, up from 34% in 2024), a rare feat in capital-intensive industries.

Long-Term Value Creation: Beyond the Takeout Narrative

While the SoftBank acquisition rumor has driven short-term volatility, DigitalBridge's long-term value lies in its strategic partnerships and capital deployment. The company recently announced a collaboration with Franklin Templeton to tap into the $15 trillion shift in wealth management toward private infrastructure by 2040. This move aligns with broader industry trends, as institutional investors increasingly allocate capital to assets that bridge the gap between traditional infrastructure and AI-driven growth.

Moreover, DigitalBridge's $12 billion DigitalBridge Partners III fund-41% larger than its 2022 predecessor-demonstrates its ability to scale in a sector where capital availability is a bottleneck. By securing power and land for data centers ahead of demand, the company is positioning itself as a "first-mover" in regions where AI adoption is accelerating. This strategy mirrors the playbook of successful infrastructure firms like Brookfield, which thrive by locking in assets before market demand spikes.

Risks and Realities

No investment thesis is without risks. DigitalBridge's GAAP revenue for Q3 2025 fell 95% year-over-year to $3.8 million due to reversals in unrealized carried interest, a red flag for investors focused on short-term earnings. Additionally, its high P/E ratio (88.3x) leaves it vulnerable to earnings shortfalls or a slowdown in AI adoption. However, these risks are mitigated by the company's fee-based business model, which generates stable cash flows regardless of market conditions.

Conclusion: A Strategic Cornerstone in AI's Future

SoftBank's potential acquisition of DigitalBridge is a symptom of a larger trend: the consolidation of power and infrastructure in the AI sector. Whether through a takeout or organic growth, DigitalBridge's role as a provider of energy and colocation services is irreplaceable in an industry where time-to-market is measured in years. Its financial performance, strategic assets, and alignment with institutional capital flows suggest that the SoftBank narrative is merely the beginning. For long-term investors, the company represents a unique opportunity to participate in the infrastructure layer of AI's next phase-a sector where the winners will be defined not by software alone, but by the power to run it.