Data Center Alley: Meeting Surging Demand for Computational Power in the US

As the US data center market continues to expand, “Data Center Alley” in Northern Virginia remains the country’s dominant hub for hyperscale compute infrastructure. Given Virginia’s dense fiber networks, the region continues to be a powerhouse in the data center market. 

Spreading in neighboring states

However, as AI-driven demand for compute capacity accelerates, land and power constraints in the region have increasingly pushed development into neighboring states. As companies race to deploy new infrastructure to support AI, cloud computing, and other emerging technology workloads, Data Center Alley and its neighboring regions including Maryland are expected to contribute a significant share of new data center development over the next several years. 

Amidst this growth, Societe Generale has emerged as a leader helping to advance the development of hyperscale compute infrastructure in the US. Last year, the Bank supported the USD 600m financing of a CoreWeave-leased data center near Richmond, Virginia as part of a new strategic joint venture between Blue Owl Capital, Chirisa Technology Parks, and PowerHouse Data Centers.  During 2025, Societe Generale committed more than USD 10bn to data center projects in the US, with further closings anticipated in 2026. 

Leveraging leadership in digital infrastructure financing

Most recently, Societe Generale led a USD 925m debt financing deal to support the development of Rowan Digital Infrastructure’s new 164MW data center in Frederick County, Maryland - strategically located just 25 miles north of Data Center Alley. Societe Generale acted as Coordinating Lead Arranger and Joint Bookrunner on the transaction, underscoring the Bank’s growing leadership position in financing hyperscale compute assets across the US.  

Importantly, the site will be occupied by an Investment Grade hyperscaler under a long-term lease. The project follows the construction of two other Rowan-developed data centers both located on the same Frederick County campus and similarly leased to a leading global technology company. 

Valtin Gallani, Head of TMT Finance & Advisory at Societe Generale Americas, said, “Rowan Digital Infrastructure is a valuable strategic partner as we strengthen our shared commitment to advancing AI and compute infrastructure in the US. Their impressive pipeline of hyperscale data centers and market leadership make this collaboration particularly impactful. This project marks a major milestone in expanding data center infrastructure within fast-growing regions in the US and strengthens our leadership in the digital infrastructure and telecom market, positioning us well for future transformative deals in this space.” 

The Frederick County data center is currently under construction, with a projected stabilization date later in 2027.