The structures theyre using reduce risk. The 2 big moves here are 1. agreeing to lease a datacenter from developer instead of building it yourself and 2. using subsidiaries to finance and own the datacenters. Both these moves exist so that the company isnt left holding the bag if something goes wrong with the construction. They dont need to worry about zoning and construction because their partners are doing that. This also means the companies dont need to take out debt themselves, since these agreements dont count.