Billionaire Behind Blackstone’s Data Center Bet Readies Next Act

Chad Williams was a force behind Wall Street’s bet on artificial intelligence before he stepped down from QTS, the fast-growing data center landlord owned by Blackstone Inc.

Now the billionaire Kansas businessman is getting ready for his next act.

Williams, 54, is launching a new company that will pair data centers and other energy-hungry firms with power infrastructure to support their growing electricity demands, he said in an interview. The venture is called QII.

The idea is to advise companies on energy strategies, including ways to bank, generate and even sell electricity back to the grid. Erecting gas turbines, ...