Every message you send, every video you watch, every prompt you type into an AI — it always runs through one set of physical 'real estate': cell towers, fiber-optic cables, and the data-center buildings that house servers (colocation). The companies that own these things don't sell anything to you directly. They're the 'landlords' — they build a big asset once, then collect rent on it for years. And in 2025–2026, the AI wave is turning part of this business into the hottest it's been in a decade.
INVX Says Clearer Data Center Rules to Lift Clean Energy and Industrial Estate Stocks, Recommends Selective Buy
The equity and derivatives market strategist at InnovestX Research, InnovestX Securities, said efforts to push Thailand as a regional data center hub are taking clearer shape after the first meeting of the Data Center Business Policy Committee resolved to accelerate integration of data and legal provisions into a single dashboard, in order to set a clear industrial strategic framework within one month. The criteria define data centers using more than 2 MW of electricity as industrial businesses, set resource utilization fees to reflect true direct and indirect costs, and impose strict energy conditions to support Green Data Centers, including a separate electricity tariff category for the group, a mandatory clean energy share of no less than 60% to meet Net Zero goals, and tighter standards for backup power systems. Four subcommittees will be set up covering the economy, infrastructure, land and buildings, and the environment to draw up technical standards, and decisive measures are being prepared to suspend water and electricity allocation for projects not yet under construction if they fail the criteria. InnovestX assesses that these clearer policies will create significant positive ripple effects for two main industries. The first is clean energy, where the 60% minimum clean energy requirement will turn clean power from an option into a necessity, sharply driving real demand. The second is industrial estates, where classifying data centers as industrial businesses will draw foreign direct investment, or FDI, into leading estates equipped with smart grid networks and environmental management, leaving estates reliant on fossil fuels far behind. The investment strategy therefore recommends Selective Buy, focusing on accumulating leaders in these two main industries. For industrial estates, it favors companies with stable smart grid networks sufficient for Tier 3-4 data centers, joint ventures with multinational technology firms, and their own water recycling management systems, namely AMATA and WHA. For clean energy, it favors companies making progress on direct power purchase agreements, or Direct PPAs, with global hyperscalers, with high ESG scores and green certificates, and investing in battery energy storage systems, or BESS, to maintain the stability of electricity supplied to data centers, namely GULF, GPSC and BGRIM, as well as GUNKUL, a contractor for high-voltage transmission line systems.
Nvidia-Backed Nscale Files for US IPO After $1.02 Billion Loss
Nscale, the London-based AI data center developer backed by Nvidia and Microsoft, filed publicly for an initial public offering in New York, seeking to raise as much as $3 billion. The company reported a net loss of $1.02 billion on revenue of $140.6 million for the six months ended June 30, compared with a net loss of $368.9 million on revenue of $10.4 million a year earlier, according to its Friday filing with the US Securities and Exchange Commission. Spun off from a cryptocurrency mining operation in early 2024, Nscale was valued at about $14.6 billion in a March Series C round led by Aker ASA and 8090 Industries, with Nvidia and Nokia Oyj also participating. The company has agreed to add more than 30,000 Nvidia chips to an existing rental agreement with Microsoft at its Narvik, Norway gigafactory, and Anthropic has agreed to spend $45 billion to rent AI cloud computing power from its flagship West Virginia data center development. The offering is being led by Goldman Sachs, JPMorgan Chase and Morgan Stanley, with shares expected to trade on the New York Stock Exchange under the symbol NSCL.
CleanSpark Data Center Bond Draws $10 Billion in Orders for $2.28 Billion Sale
CleanSpark Inc.'s debut junk-bond offering for a data center tied to Meta Platforms Inc. drew orders of about $10 billion, more than four times the deal's size, according to people familiar with the matter. The five-year notes were set at almost $2.28 billion and launched at 98.5 cents on the dollar to yield 8.25%, roughly 1.75 percentage points above the average for BB rated firms tracked by Bloomberg. The fundraising, led by Morgan Stanley, will help finance construction of a data center in Sandersville, Georgia, that has been fully leased to Anviran LLC, a Meta subsidiary, under a $6.6 billion, 20-year contract. The facility is expected to begin operations in the fourth quarter of 2027, with Meta guaranteeing rent and operating expenses. Data center developers have now sold more than $3 billion of high-yield bonds so far this year, most backed by long-term leases with hyperscalers including Oracle Corp. and Amazon.com Inc.
SoftBank's SB Energy IPO Faces Investor Test as OpenAI Timeline Clouds $50 Billion Listing
SoftBank's push to list SB Energy at a valuation of roughly $50 billion is facing a tougher investor test as uncertainty around OpenAI's IPO timeline raises questions about how much of the data-center developer's future growth depends on a single customer. SB Energy is expected to seek between $5 billion and $7 billion in an IPO within the coming weeks. The company has yet to bring a single data center online, but already carries roughly $439 billion of contracted backlog tied largely to 8.8 gigawatts of future capacity, with roughly $357 billion of that contracted revenue not expected to be recognized until 2034 or later. SB Energy generated only $138.7 million of revenue during the first half of this year, primarily from legacy solar operations, and posted a $551.6 million operating loss. OpenAI is the primary tenant for SB Energy's largest pipeline projects, while Nvidia has provided a $105 billion guarantee for the initial phase of an 8-gigawatt Ohio data-center campus, and both OpenAI and Nvidia are expected to own stakes in the publicly listed company. SB Energy estimates it needs more than $170 billion in capital spending to build its pipeline, and analysts cited in the report estimate it may need another $7 billion of equity beyond IPO proceeds, in addition to substantial debt, just to maintain its typical 10% equity contribution to projects.
HPE's $700 Million AI Networking Backlog Tests Supply Chain
Hewlett Packard Enterprise is sitting on a record pile of AI networking orders it cannot yet ship, and the gap between bookings and revenue is now the central question for the stock. Orders for the Networks for AI portfolio reached $700 million in fiscal Q3 2026, a new high, after the company blew past its cumulative fiscal 2026 target of at least $2 billion and raised that target to $2.5 billion to $3 billion. The hardware behind those orders includes routers and switches HPE is supplying to Oracle for one of the largest AI cloud infrastructure build-outs, work that extends more than a decade of engineering between Oracle and Juniper Networks, the business HPE acquired last year. Networking revenue rose 10% in fiscal Q3 2026 against a prior-year base that includes Juniper Networks, while networking orders rose 36%, and the segment brought in $2.9 billion of the $12.2 billion in total revenue HPE reported for the quarter. Management attributes the gap to supply, citing memory and wafer capacity that have gated supply since the start of fiscal 2026, and HPE has more than doubled its networking purchase commitments quarter over quarter while signing multiyear supply agreements to lock capacity. Networking revenue growth is guided to 11% to 13% in fiscal Q4 2026 and 14% to 17% in fiscal 2027, with the next scheduled look at the business coming at the Networking Investor Day on September 30, 2026.
Cramer Urges Patience as Corning Launches $2 Billion Stock Sale
Jim Cramer told Mad Money viewers to wait for Corning Incorporated to fall further before trimming or holding, citing the company's at-the-market selling program. Corning disclosed on September 11 that it had entered an agreement with Goldman Sachs to sell up to $2 billion of common stock through an at-the-market offering, with proceeds intended for general corporate purposes. The prospectus assumes raising the full $2 billion at $165.96 per share would require issuing 12,051,097 shares, increasing shares outstanding from 861,388,331 to 873,439,428. The offering came as Corning's optical business remained strong: at a September 9 Citi conference, CFO Ed Schlesinger said optical demand was very strong and orders continue to pick up, and second-quarter Optical Communications sales rose 32% year over year to $2.07 billion while core sales increased 17% to $4.74 billion. The bear case centers on execution, as Corning targets a $10 billion scale-up photonics business by the end of the decade tied largely to adoption of NPO and CPO technologies, and expects full-year 2026 capital expenditures of approximately $2 billion compared with $754 million spent in the first half of the year.
Meta Raises 2026 Capex Guidance to $130 Billion to $145 Billion
Meta Platforms raised its full-year 2026 capital expenditure guidance to a range of $130 billion to $145 billion, including principal payments on finance leases, narrowed from a prior $125 billion to $145 billion range in its Q2 2026 report on July 29, 2026. The forward guidance nearly doubles Meta's full-year 2025 capex of $72.215 billion, and Q2 capital expenditures alone reached $31.1 billion, driven by servers, data centers, and network infrastructure. To fund the build, Meta ended Q2 with $90.3 billion in cash and marketable securities and $83.7 billion in debt, and announced a strategic venture with BlackRock to develop a one gigawatt data center in El Paso, Texas. CFO Susan Li said Meta is demand constrained today, and CEO Mark Zuckerberg said the company is receiving quite a number of offers at a meaningful premium over what we paid for the compute, framing direct compute sales as one leg of a portfolio that also includes APIs, business agents, productivity tools, and subscriptions. The strain is visible in the quarterly numbers: Q2 free cash flow was $784 million, down 91.31% year over year, and operating margin compressed to 31% from 43%, even as Q2 revenue reached $60.801 billion, up 27.96% year over year and above the $60.286 billion consensus, with advertising revenue of $59.4 billion, up 27%.
Amazon AWS Revenue Hits $42.23B, Up 37% in Fastest Growth in 18 Quarters
Amazon Web Services posted $42.23 billion in revenue, growing 37% year over year, the segment's fastest growth in 18 quarters, with a 39.4% operating margin and a $496 billion contracted backlog. Amazon's chips and AI businesses each eclipsed run rates of more than $25 billion in the second quarter, both growing at triple-digit percentages year over year, while 98% of Amazon's top 1,000 EC2 customers use Graviton and Anthropic and OpenAI have made multi-year, multi-gigawatt commitments to Trainium. Q2 operating income landed at $27.46 billion, up 43.2% year over year, and advertising is a $70 billion-plus trailing-twelve-month business growing 26%. Capex reached $54.21 billion in a single quarter, up 68.4% year over year, and free cash flow swung to negative $7.6 billion on a trailing-twelve-month basis, though most AI capacity is contracted for at least five-year terms. Since Amazon reported Q2 on July 30, 2026, AMZN moved from $230.08 to $251.19, while SPY went from $747.03 to $762.70 and QQQ went from $687.99 to $716.92. Andy Jassy said AWS could become a few hundred billion dollar revenue business and now believes it will be at least double that and very possibly a trillion dollar annual revenue business in time.
CleanSpark Signs $6.6 Billion AI Data Center Lease in Georgia
CleanSpark has signed a 20-year, $6.6 billion triple-net lease for its Sandersville, Georgia, site, a deal the company expects to generate $330 million in annual revenue. Chairman and CEO Matt Schultz said the site includes a fully energized 250-megawatt substation, that CleanSpark secured an additional 122 acres with community support, and that the tenant received short-term exclusivity for up to 885 additional megawatts in Texas, with the first data hall targeted for delivery in December 2027. The announcement came during an H.C. Wainwright panel where mining and AI infrastructure executives described a broad pivot from bitcoin operations toward AI colocation, cloud services and GPU-as-a-service. Core Scientific's Russell Cann said direct-liquid-cooled construction costs have climbed from roughly $4.5 million per megawatt for early projects to about $10 million to $10.5 million per megawatt for facilities turned on this year and $12 million to $13 million per megawatt for projects expected to start operating in 2027. Cann also said Core Scientific recently announced a roughly 500-megawatt agreement with AMD, with AMD holding rights to the next 2,000 megawatts across sites in Hunt County and Pecos, Texas, and Muskogee, Oklahoma, under a 15-year triple-net lease at $125 per megawatt or a modified gross structure at $145 per megawatt. Executives pushed back on AI bubble concerns, with Cann noting roughly 5 gigawatts of rack space is delivered annually against approximately 15 gigawatts of annual chip demand, while cautioning that many power requests may be duplicative or unsupported by actual transmission, substations or fuel supply.
Xeal Launches Laitent, World's First Edge Inference Compute Network Using Idle EV Charging Capacity
Xeal launched Laitent, which it calls the world's first edge inference compute network using idle EV charging capacity, tapping more than 200MW of permitted, installed electrical infrastructure across 1,600+ properties. Xeal, a member of NVIDIA Inception, plans to deploy over 100,000 NVIDIA GPUs alongside EV charging infrastructure, and has secured partnerships with Rafay Systems for AI infrastructure orchestration, Spectrum Business for dedicated enterprise-grade fiber, dozens of real estate and property managers, and a Tier 1 inference provider for up to 5MW of compute. The first Laitent Pod will be brought online with partner JVM Realty by the end of 2026. Each Laitent Pod is about the size of one parking space, contains up to 48 NVIDIA Hopper or Blackwell Ultra GPUs, requires no water hookup, and runs quiet at less than 65 decibels, offering sub-20ms latency in metro areas. Xeal said EV charging sites typically operate at less than 10% of permitted capacity, and it taps the remaining 90% for compute, with property owners able to add as much as $1m in property value for little-to-no upfront investment. Looking beyond the initial 200MW of installed charging capacity, Xeal plans to unlock over 1GW of existing headroom across real estate and EV charging deployments.
Nvidia CEO Huang Says AI Spending Flywheel Is 'Really, Really Flying'
Nvidia CEO Jensen Huang said demand for artificial intelligence computing is accelerating, describing the resulting investment cycle as a flywheel that is "really, really flying." Speaking with CNBC's Jim Cramer at Dreamforce in San Francisco, Huang estimated that a 1-gigawatt Nvidia AI factory costs about $50 billion to $60 billion to build but can generate roughly $50 billion in annual rental revenue, implying a return on invested capital of about one year. He said token generation has increased 25-fold in less than a year, with open models now accounting for nearly 70% of generated tokens, up from about 30%. Huang also said Nvidia Grace Blackwell systems now rent for about $16 per GPU hour, versus roughly $5 under some contracts signed a year ago, and he expects AI testing to become a third major category of infrastructure alongside training and inference, requiring additional data centers.
PLANET Says Data Center in EEC Is a Hot Commodity as Thai and Foreign Investors Line Up, Plans to Expand Total Power Capacity to 6.8 MW
Planet Communications Asia, or PLANET, disclosed that its data center in the Eastern Economic Corridor, or EEC, is drawing strong interest from both domestic and foreign investors, with operators continuously approaching the company to negotiate service use and joint investment. The momentum is driven by rapidly expanding demand for data, cloud, and AI technology in the region, along with government support through changes to laws, regulations, and investment incentive measures in the EEC. PLANET currently provides co-location data center services under the name STP Planet DC in Ban Chang district, Rayong province, supporting a maximum IT load of 600 kW per data hall, and plans to accommodate an expansion of total gross load of up to 6.8 MW to meet demand and support the future growth of enterprise customers and large cloud service providers.
Yuanta Says AI Capex Still Expanding, Recommends 11 Thai Stocks and 8 DRs to Benefit
Yuanta Securities said AI Capex investment is likely to keep expanding over the next one to two years. Although elevated US bond yields will remain a drag, growth in Enterprise AI that is driving cloud and compute demand will offset it. Returns on GPU leasing investment remain high, with payback within 2.2 to 3.1 years, and hyperscalers have the financial strength to invest at least another 2 trillion US dollars in AI infrastructure. The Data Center industry in the APAC region is set to grow at a 25.2% CAGR in 2025 to 2030, the second fastest in the world after North America at 26.8% CAGR, and excluding China it can still grow at 22.9% CAGR. Thailand stands to benefit from its infrastructure readiness and geopolitical neutrality, while the Thai economy is starting to see positive effects through AI-related exports and continued growth in FDI. Thai stocks that Yuanta sees as likely to outperform the market under this theme are divided into the AI Export group, namely DELTA, HANA, SMT and EPG, and the AI and Data Center Deployment group, namely GULF, GUNKUL, AMATA, WHA, STECON, BBL and SCB, for a total of 11 stocks. Foreign companies that stand to benefit include NVDA19, GOOGL19, AMZN19, LITE80, MRVL80, BE80, JPMUS19 and GSUS06, for a total of 8 DRs.
KResearch says Bangkok data centers are 63% concentrated, urges control on project size and number
Kasikorn Research Center, or KResearch, says data centers in Bangkok are facing growing constraints amid new rules on location and costs. Thailand currently has 73 data centers in operation, and about 63% of them are in Bangkok, reflecting demand that remains concentrated in the capital. Most data centers in Bangkok are relatively small, using an average of about 1.2 MW of power each, compared with hyperscale data centers that can use as much as 200 MW each, which means large projects may be better suited to areas outside the city with more power, water, and land to support them. KResearch recommends that Bangkok's role focus only on small data centers that need to be in the city, such as systems that must stay close to users and require low latency, and that both the size and the number of projects be set in line with the capacity of each area, so that a large number of small data centers does not crowd out large projects. Regulation will tighten both before and after operations begin, with new projects required to pass stricter screening and operating projects still subject to safety inspections. Data center costs are also likely to rise under the new power rules. If electricity rates for data centers increase by 1 baht per unit from the current rate, an average 1.2 MW data center in Bangkok could see its power costs rise by roughly 10 to 14 million baht per year per facility.
Crusoe said Thursday it raised $3.9 billion in a Series F round that pushes its valuation to $30.9 billion. The round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with Founders Fund, GIC, Nvidia, Qatar Investment Authority, Radical Ventures, and TPG also participating. Crusoe also announced three new board members: Cloudflare CFO Thomas Seifert, Bill Stein, partner and CIO at Primary Digital Infrastructure, and Redwood Materials founder and CEO JB Straubel, who also sits on Tesla's board. The fresh capital will help finance existing data center projects, including a large site in Abilene, Texas, used by OpenAI, as well as smaller, modular AI factories called Spark that can be transported by truck and connected to large power sources almost anywhere. The raise comes 10 months after Crusoe raised $1.38 billion at a $10 billion valuation last October, and follows a reported $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure.
Brokerage recommends "buy" on GULF, maintains 2026 revenue and EBITDA growth target of 12-15%
A securities analysis recommends "buying" GULF shares, expecting operating results in the second half of 2026 to continue growing, and maintains guidance for 2026 revenue and EBITDA growth of around 12-15%. This is supported by roughly 700 MW of new capacity in the second half, including 623 MW of renewable power plants expected to generate additional profit of about 600 million baht per year, and the 10 MW Chiang Mai community waste-to-energy plant expected to generate profit of about 120 million baht per year. Meanwhile, the LNG Import and Optimization business is expected to generate profit of about 1.5 billion baht this year. On the US side, the Jackson power plant has already benefited from a Capacity Payment increase from 270 to 329 dollars per MW-day, driven by demand from data centers in the PJM market. As for GSA01, with a capacity of 25 MW, customers have used full capacity since June, allowing full profit recognition in the second half of 2026. The first roughly 200 MW of data centers that have already been committed are expected to be fully operational in 2027, before capacity expands to approximately 1,000 MW by late 2028. The company continues to expand its Digital Infrastructure to be fully integrated, with plans for equity investment of approximately 130-140 billion baht over five years, allocating about 10% to GULF Edge, which could rise to 15% depending on data center growth. On sentiment, the view is that the price decline over the Singtel share overhang issue is nearing resolution, after Singtel sold 416 million GULF shares, or 2.8% of total shares, in June 2026, reducing its stake from 7.73% to 4.95%, with a lock-up condition barring further sales of the remaining shares for 90 days, which will expire around September 21-22. On technical factors, the stock tested and held its psychological support at 60.00 and reversed upward with a positive signal candlestick, with resistance at 61.25 and 63-63.25. For those holding the stock, the recommendation is to hold or buy more; for those without the stock, the recommendation is a short-term buy, focusing on holding support at 60/59 and it should not fall below that.
Applied Digital Jumps 6.8% After Wells Fargo Initiates With Overweight Rating
Applied Digital shares jumped 6.8% in the afternoon session after Wells Fargo initiated coverage of the digital infrastructure provider with an Overweight rating and named the stock a top idea. According to TipRanks, the firm cited 1.4 gigawatts of contracted capacity and a power-advantaged footprint as key supports for the call. An Overweight rating typically means the analyst expects the shares to outperform peers over the firm's investment horizon. Applied Digital is down 4.9% since the beginning of the year, and at $26.72 per share it is trading 46.2% below its 52-week high of $49.65 from May 2026.
Digital Realty Trust Forms Türkiye Joint Venture With Rönesans Infrastructure
Digital Realty Trust announced on September 14 a joint venture with Rönesans Infrastructure to develop and operate data centers in Türkiye, with the first Ankara campus designed for more than 22 megawatts of IT capacity. Land, power and permits are secured, early construction has begun, and the first facility is scheduled for completion in 2028, while the venture also plans an additional Istanbul facility. Digital Realty did not disclose ownership percentages, capital contributions, construction costs or signed customer commitments, leaving the capital at risk and project returns unquantified. The company said the 2028 completion target applies to the first facility rather than the entire campus, and that leasing volumes, contract pricing and customer move-in schedules will determine how quickly construction spending produces income. Insider Monkey's database showed 73 hedge funds holding Digital Realty at the end of 2Q2026, up from 46 funds three months earlier, though those filings reflect positions held before the Türkiye venture was announced.
Oracle Expands Restructuring to $2.8 Billion as AI Backlog Hits $664 Billion
Oracle expanded its fiscal-2026 restructuring plan to roughly $2.8 billion as the company pours more capital into AI infrastructure, Reuters reported. The shares rallied about 5.4% to $150.90 Thursday morning, based on the latest market snapshot, versus the earlier $148.83 quote. That $2.8 billion restructuring bill works out to roughly 14.5% of Oracle's latest $19.35 billion in quarterly revenue and covers severance, contract exits and other restructuring costs, while free cash flow is running at approximately negative $5.4 billion. Remaining performance obligations have climbed to $664 billion after Oracle signed more than $30 billion of additional AI-cloud contracts, with roughly half of that backlog expected to turn into revenue within 36 months. Management says customer prepayments and customer-supplied chips can soften the capital burden, but the real test is execution.
Oracle Trades at $147 Despite $664 Billion AI Backlog, 24/7 Wall St. Sees 50% Upside
Oracle shares trade at $147.17 even after a fiscal Q1 2027 earnings report that saw revenue hit $19.345 billion, up 29.6% year over year, non-GAAP EPS of $1.92 against a $1.74 estimate, and cloud infrastructure growth of 121%. Remaining performance obligations swelled to $664 billion, with more than $30 billion in new AI contracts booked in the quarter alone, yet the stock has fallen 8.95% over the past week as the market focuses on negative $5.396 billion quarterly free cash flow and a $28.499 billion capex bill. 24/7 Wall St. maintains a buy rating and a $214.69 price target, implying roughly 50% upside, with 90% confidence, citing a forward P/E of 17 that is cheaper than Microsoft at 26 and Alphabet at 22. The bear case centers on FY26 free cash flow of negative $23.686 billion, interest expense up 55% to $1.4 billion, and full-year FY27 capex guidance of $90 to $95 billion, which could force another equity raise beyond the completed $20 billion ATM program. Half of the $664 billion RPO is expected to convert to revenue over the next 36 months, and management guided full fiscal 2027 revenue to at least $90 billion with non-GAAP EPS of $8.10.
Nvidia Commits $2 Billion to Brookfield AI Infrastructure Fund
Nvidia Corp. has committed $2 billion to Brookfield Asset Management's global artificial intelligence infrastructure fund, according to investor documents that revealed the size of a previously disclosed investment. The AI giant is an anchor investor for the Brookfield Artificial Intelligence Infrastructure Fund, alongside the Kuwait Investment Authority, Brookfield said last year. The fund focuses on the AI buildout, backing factories, dedicated behind-the-meter power solutions and compute infrastructure. Brookfield is raising $10 billion for the AI infrastructure fund as part of a broader plan to raise around $50 billion for the infrastructure group over the next two years, with AI featuring in every strategy. Brookfield is also part of an Nvidia consortium committing to financing AI computing deals totaling more than $500 billion.
CoreWeave Deploys NVIDIA Vera Rubin NVL72 Clusters on Its Cloud
CoreWeave deployed multi-rack NVIDIA Vera Rubin NVL72 clusters on CoreWeave Cloud on Wednesday, moving the architecture from validation toward broader availability. CoreWeave had already become the first cloud provider to bring up and validate NVIDIA's Vera Rubin NVL72, and in August it won a multi-year agreement with Hudson River Trading to build its next-generation AI research and model-development platform using Vera Rubin NVL72 and Spectrum-X Ethernet. NVIDIA says Rubin is in full production and is designed for training and inference. CoreWeave said AI products and services beyond GPUs, including storage, CPU, networking and software, exceeded $400 million of annual recurring revenue in the second quarter, while booked annual recurring revenue for managed inference rose from $1 million to more than $100 million within months of launch. Active power exceeded 1.5 gigawatts in the second quarter and contracted power reached about 4.2 gigawatts by Aug. 11, with CoreWeave targeting more than 1.85 gigawatts of active power by year-end 2026 and at least 8 gigawatts by 2030, against expected 2026 capital expenditures of $35-$39 billion and second-quarter net interest expense of $640 million.
Nvidia CEO Huang Says Chip Sales Will Double in 2027 on Vera Rubin Ramp
Nvidia CEO Jensen Huang confirmed at a Scotland tech gathering that the company's chip sales in 2027 are projected to roughly double from 2026, echoing management's August 26, 2026 earnings call guidance for about 70% revenue growth in fiscal 2028. The doubling is being driven by the Vera Rubin platform, which entered full production alongside continued Blackwell deployment and is expected to be the fastest product ramp in Nvidia's history, with per-gigawatt revenue opportunity rising to roughly $40 billion from $25 billion on Blackwell. Nvidia's supply obligations swelled to $279.0 billion, largely tied to memory procurement for Vera Rubin, while guarantee obligations for AI cloud partners are capped at $108.5 billion and financing platforms with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR are expected to mobilize over $500 billion of third-party capital for AI infrastructure. Sovereign and enterprise AI is growing 100% a year, with sovereign AI revenue up 35% sequentially and more than tripling year over year, and neocloud partners expected to exit the year with eight gigawatts of installed capacity versus roughly three gigawatts at the end of 2025. Consensus EPS for the fiscal year ending January 2028 has climbed from $12.67 ninety days ago to $15.57 today, with 39 upward revisions in the past 30 days and zero cuts, on revenue now pegged at roughly $678 billion.
AFL, Corning, Sumitomo Electric and TeraHop Complete SDM4 Multicore Fiber MSA, Release Version 1.0 Specification
AFL, Corning Incorporated, Sumitomo Electric Industries, Ltd., and TeraHop PTE. LTD. announced the completion of the SDM4 Multicore Fiber Multi-Source Agreement and the public release of the SDM4 Multicore Fiber MSA Technical Specifications, Version 1.0. The specification defines common geometrical, optical, mechanical and measurement requirements for a four-core multicore fiber intended for AI data centers, campus networks and other short-reach optical links, completing the objective the MSA set out to achieve: an industry-defined technical foundation for multi-vendor interoperability and future international standardization of four-core multicore fiber. Key elements include a four-core, square-lattice 2x2 core arrangement with a core pitch of 40 plus or minus 1 micrometers, a nominal cladding diameter of 125 micrometers, optical characteristics suitable for O-band short-reach applications, and crosstalk limits of minus 40 dB or less at 1 km and 1310 nm for both adjacent and diagonal core pairs. Antonio Castano, Chair of the SDM4 MCF MSA, said the specification establishes a common technical foundation that can help accelerate adoption of multicore fiber across the industry by aligning around a shared four-core fiber design. The MSA said frequent revisions are not anticipated and that future evolution of requirements for this class of fiber is expected to be advanced through relevant international standards-development organizations, with the published specification serving as a technical reference for discussions within ITU-T, IEC and organizations such as IEEE.
Corning Expands AI Partner Base With Meta, Amazon, Nvidia, Verizon Deals
Corning Incorporated is expanding its partner base across the technology, cloud, networking and telecom sectors, signing a series of multibillion-dollar agreements tied to AI infrastructure buildouts. In the first half of 2026, Corning entered a multiyear agreement worth up to $6 billion with Meta to supply optical fiber, cable and connectivity products for Meta's U.S. data-center expansion, and also signed a multibillion-dollar, multiyear agreement with Amazon to support its AI data center expansion. Corning has additionally formed a multiyear commercial and technology partnership with NVIDIA under which it plans to increase its U.S. optical-connectivity manufacturing capacity tenfold and expand U.S. fiber production by more than 50 percent. Verizon and Corning announced a multibillion-dollar, multiyear agreement covering more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 through 2032, supporting both broadband expansion and the long-haul network needed to connect AI infrastructure. Beyond those large contracts, Corning is collaborating with US Conec as a licensee of the PRIZM TMT optical ferrule technology, designed to accommodate higher fiber counts in tighter spaces for denser AI data centers. Corning faces competition from Amphenol Corporation and Ciena Corporation, and its growth outlook remains dependent on the pace of AI infrastructure investment and the timing of large customer deployments.
Marvell Data Center Revenue Hits Record $2.17 Billion, 79% of Total
Marvell Technology's data center business reached a record $2.17 billion in the second quarter of fiscal 2027, up 46% year over year and 18% sequentially, and accounted for 79% of total company revenues. The data center end market made up 74% of Marvell's fiscal 2026 revenues, and the company expects data center revenues to grow approximately 60% in fiscal 2027. Marvell reported strong demand for 800G optical DSPs while its 1.6T products ramp rapidly, and scale-out switching is expected to more than double in fiscal 2027 on broader adoption of its 51.2T switch products. The company expects its custom business to accelerate in the second half of fiscal 2027 and more than double year over year in fiscal 2028, driven by XPU and XPU-attach solutions, with an expanded hyperscaler agreement covering AI inference accelerators, storage controllers, network interface controllers, memory interface controllers and near-memory compute. Marvell also expanded its position in next-generation AI infrastructure through its relationship with NVIDIA, including NVLink Fusion, scale-up switching and silicon photonics, and introduced products such as the 102.4 Tbps Teralynx T100 switch. Marvell shares have gained 170.3% year to date, and the Zacks Consensus Estimate for fiscal 2027 earnings suggests year-over-year growth of 48%.
Ciena Sets Fiscal 2029 Targets of 30% Revenue CAGR and 50% Gross Margin
Ciena Corporation announced three-year financial targets at its Investor Forum at its R&D facility in Ottawa, Ontario, projecting a revenue compound annual growth rate of approximately 30% from 2026 through 2029, an adjusted gross margin of about 50%, an adjusted operating margin of 32-35% and a free cash flow margin of roughly 20%. Management said the targets reflect the opportunities Ciena sees ahead and its confidence in execution, supported by a differentiated portfolio, growing customer demand, expanded supply capacity and new addressable market opportunities. The long-term targets follow strong third-quarter fiscal 2026 results, when Ciena reported revenue of $1.67 billion, up 37% year over year, adjusted gross margin of 46.4%, a record adjusted operating margin of 22.5% and $116 million in free cash flow, while backlog increased by $800 million to $8.5 billion and management expects fiscal 2026 backlog to exceed $10 billion. Ciena has also secured long-term agreements for certain key components through 2029, and for fiscal 2027 management provided an early outlook for revenue growth of at least 30%, or $8.3-$8.4 billion, with adjusted gross margin of 45-46% and adjusted operating margin of 25-27%. Beginning with first-quarter fiscal 2027 results, Ciena will change its financial reporting structure to four segments: Optical Systems, Interconnects, Global Services and Routing and Other.
Crux AI Secures $22 Billion Debt Financing to Buy Google TPUs
Crux AI, the cloud venture backed by Google and Blackstone, has secured $22 billion in debt financing to buy Google-developed Tensor Processing Units, according to Bloomberg. Ten banks are reportedly providing the financing, including Goldman Sachs, Barclays, BNP Paribas and Bank of Nova Scotia, with the debt backed partly by the value of Google's TPUs and partly by customer contracts signed by Crux AI. Blackstone has separately committed an initial $5 billion in equity. Crux AI plans to bring its first 500 megawatts of data-center capacity online in 2027, a test of whether customers will adopt Google's chips on a much larger scale outside Google's own ecosystem. The $22 billion solves part of the funding problem, and investors will be watching how quickly Crux AI fills that first 500 megawatts.
Baron Capital Holds $25 Billion in SpaceX as Baron Projects $1 Trillion Starlink Revenue
Baron Capital holds roughly $25 billion in SpaceX shares, and founder Ron Baron projects that Starlink alone can grow into a $1 trillion revenue line within a decade. SpaceX, trading under the ticker SPCX, closed at $150.88 on September 16, 2026, up 5.15% on the session but down 6.26% from its post-IPO reference, with a market capitalization near $1.16 trillion. SpaceX's Q2 connectivity revenue reached $4.29 billion, up 66% year over year, with enterprise and government revenue inside that line growing 108%, even as consumer ARPU slipped from $85 to $66. Baron's model rests on expanding the constellation to 100,000 satellites, with each generation deorbited every five years and replaced by hardware ten times more capable, a plan that depends on Starship V3 cutting the cost to orbit by 99% or more. SpaceX spent $18.37 billion on capex in Q2 alone, including $15.83 billion on AI compute, and placed a $25 billion inaugural investment-grade bond issuance to fund the buildout, according to Baron Capital. GAO researchers reviewing space-based data centers in April 2026 flagged that cooling at scale remains unproven because heat disperses poorly in the vacuum of space, and that on-orbit servicing is underdeveloped, undercutting Baron's claim that orbital compute costs just $2 one time. The near-term milestone to watch is the Starship V3 test-flight cadence, since a launch-economics breakthrough is the single variable that decides whether the 100,000-satellite plan is arithmetic or fiction.
AXG and Digital Realty Partner on Hosted Private Infrastructure as a Service Across More Than 30 Countries
AXG and Digital Realty announced a partnership to help global system integrators and managed service providers deliver fully hosted, lifecycle-managed private infrastructure as a service across more than 30 countries. The joint offering combines Digital Realty's global data center platform, PlatformDigital, and its ServiceFabric interconnection and orchestration solution with AXG's multi-technology infrastructure-as-a-service model, covering data center space, power, cooling, connectivity, interconnection, and sovereign-ready colocation. Under the arrangement, GSIs and MSPs retain ownership of the customer relationship, solution design, managed services, orchestration, and the application layer, while AXG and Digital Realty provide the underlying hosting, commercial, and operational infrastructure. The offering targets four areas of enterprise and government demand: private AI, edge as a service, cloud repatriation, and neo-cloud capacity, and is available today across 31 markets spanning North America, EMEA, APAC, and LATAM. Digital Realty's Jules Johnston, Senior Vice President of Channels and Alliances, said the combination creates a powerful new route to market, while AXG CEO Bo White said the partnership closes the gap between dedicated infrastructure economics and cloud-style simplicity.
Generac surges on $8 billion Amazon data center generator deal
Generac Holdings surged 33.7% in premarket trading after announcing a long-term agreement with Amazon to supply industrial backup generators for the technology giant's global data centers. The agreement calls for initial deliveries worth about $2.4 billion across 2027 and 2028, while the total value of the arrangement could reach as much as $8 billion. Amazon will also receive a warrant to purchase about 1.69 million Generac shares at an exercise price of approximately $200.93 per share, representing nearly 3% of the company's shares outstanding. Nebius Group NV rose 11.1% in pre-open trading after notifying customers of broad-based price increases across its on-demand GPU cloud services effective Oct. 1, with prices rising approximately 17% for H100 instances, roughly 21% for the latest Nvidia B300 GPU, and 25% for AMD EPYC Genoa CPU rates. BCB Bancorp fell 4.9% in premarket trading after pricing an underwritten public offering of 11 million common shares for gross proceeds of $85.25 million and disclosing it is marketing approximately $210 million of problem loans, while expecting a net loss of between $126.2 million and $136.1 million for the third quarter of 2026.
TowerNorth Secures New Growth Capital and Debt Facility from Berkshire Partners
TowerNorth announced it has secured additional growth capital from Berkshire Partners and closed a new debt facility. The independent developer, owner, and operator of mission critical wireless infrastructure in the United States said the additional capital strengthens its financial flexibility and will support continued expansion as demand for wireless connectivity and network capacity drives investment in communications infrastructure. TowerNorth plans to deploy the capital across build-to-suit and strategic tower development, developer partnerships, and selective acquisitions. Since Berkshire's investment in September 2023, TowerNorth has grown from 64 towers to 231 towers, including 28 towers acquired since the beginning of 2026. Chief Executive Officer Bert Stern said the additional capital gives the company greater flexibility to continue executing its strategy, while Berkshire Partners Managing Director Drew Walker said the firm is pleased to invest additional capital and support TowerNorth's next phase of growth. Kirkland & Ellis LLP and Croke Fairchild Duarte & Beres LLC served as legal advisors and Guggenheim Securities LLC served as a financial advisor, and financial terms of the transactions were not disclosed.
Anutin Set to Press Trump on Special Thai Tariff Rate, Board Established to Oversee Data Centers
Prime Minister and Interior Minister Anutin Charnvirakul disclosed that tariff negotiations with the United States are close to conclusion on the main points, with only minor details remaining. On September 18, he will discuss the details again with Deputy Prime Minister and Commerce Minister Supajee Suthumpun, and both sides are opening the way for talks at the leaders' level. If there is an opportunity to speak with U.S. President Donald Trump, Anutin will raise the matter of the United States having previously mentioned considering a special tariff rate for Thailand, since Thailand has carried out the joint Thai-Cambodian statement on both mine clearance and crackdowns on scammers. On the same day, Anutin also spoke about oversight of the data center business, saying Thailand still has no specific law for this business, so the government has set up a committee to oversee it in order to design regulations and draft a specific law that delivers the greatest benefit to the country and to investors, as well as to ensure fairness in the use of resources including electricity, cooling water, and fuel, and to manage environmental impacts. He also assigned the Department of Public Works and Town and Country Planning, the Department of Provincial Administration, the Department of Disaster Prevention and Mitigation, the electricity authority, water-related agencies, and provinces with data centers to exchange information and work together systematically. Meanwhile, Digital Economy and Society Minister Chaichanok Chidchob, commenting on reports that the Election Commission is proceeding with two or three more cases concerning the Senate selection process, said he does not expect any outcome in the matter and believes the relevant agencies will perform their duties fully, with the most important thing being the facts; if wrongdoers are found, legal proceedings must follow. People's Party deputy leader Rangsiman Rome said no senator defines himself as an orange senator and called on the Election Commission to disclose evidence and investigate all sides by the same standard. Separately, Benjamin Sukanjanajtee, Director-General of the Department of Treaties and Legal Affairs, reported to the prime minister on the outcome of the compulsory conciliation commission meeting in the conciliation process between Thailand and Cambodia under the 1982 United Nations Convention on the Law of the Sea, or UNCLOS. The first meeting was held in Singapore from September 14 to 16, and he said it is too early to disclose details or assess results, and that the process could take about 11 to 12 months or more. He stressed that this UNCLOS process concerns maritime boundaries and is not related to land boundaries.
Public Health Committee Urges Government to Add Public Health Perspective to Data Center Board, Push for Mandatory HIA on Every Project
Sakolthee Phattiyakul, chairman of the Committee on Public Health, held a press conference on the results of its review of the health impacts on the public and environmental health oversight measures arising from data center operations in urban communities. He stated that the Governor of Bangkok has drawn up a strict five-point checklist for inspecting data center siting, covering building standards, resource use, impacts on the public and the environment, fire prevention, and emergency preparedness and fire evacuation drills. Sakolthee said the most worrying issue is the regulatory vacuum surrounding construction permits for data centers, which in Bangkok are being sought under the guise of warehouses because there is still no definition or legal framework covering them, either in city planning or under the Building Control Act of 1979, and no agency has yet taken responsibility for heat-related issues. The committee therefore resolved to submit four proposals to the government. First, it proposes adding the Minister of Public Health, the Permanent Secretary of the Ministry of Public Health, and the National Health Commission, which oversees health impact assessments, to the policy committee on data center operations. Second, the committee, together with the Bangkok Metropolitan Administration and the National Health Commission, will submit proposals concerning at least six sites that pose dangers but have not undergone health assessments, and will prepare additional documents to require health impact assessments during the period when there is still no law specifically governing data centers. Third, it asks that the building control law be amended promptly and that the Department of Public Works and Town and Country Planning under the Ministry of Interior define what constitutes a data center. Fourth, it asks the Bangkok Metropolitan Administration to take part in revising the new city plan to make it clearer. Thailand currently has 166 data center projects in total: 35 already open, 49 under construction, and 117 in the permit application process. In Bangkok alone there are 51 projects, divided into 43 data centers located inside buildings, belonging to banks, state enterprises, and government agencies, while six are stand-alone projects. Three of these have already been completed, located in Suan Luang, Huai Khwang, and Bang Kapi districts, and three are still seeking permits. The Governor of Bangkok has already ordered a suspension and halt on issuing permits.
Hyperscale Data Invests Over $70M in Michigan AI Data Center
Hyperscale Data said it has invested more than $70M in Alliance Cloud Services and its Michigan AI data center, with operations under a previously announced master services agreement expected to begin in November 2026. The investment has funded a substantial portion of the capital needed to prepare the facility for an initial 20 MW AI compute deployment to a California-based neocloud provider, and the company said it has acquired a substantial amount of the equipment needed to bring the contracted capacity online. The agreement covers an initial 20 megawatts of critical AI compute capacity for 10 years, with two five-year extension options, and if maintained for the full 20-year term is expected to generate more than $1.2B in revenue. The customer can expand the deployment to 52 MW, which could generate more than $3B in revenue over 20 years, while the Michigan facility has about 340 MW of potential capacity, leaving about 270 MW for future customers after a full 52 MW deployment. The stock price scaled about 4.4% on Thursday during pre-market trade.
Government prepares to draft dedicated law to regulate data centre investment
Prime Minister and Interior Minister Anutin Charnvirakul revealed that the government is preparing to draft a dedicated law to regulate the data centre business, in order to set fair rules and control the impact of heavy use of electricity, water and the environment. Thailand currently has no specific law for this type of business, even though it has in the past placed importance on attracting foreign investment. Anutin stressed that the government does not want to send a signal of restricting or blocking investment, as that would be unfair to operators who have already invested in Thailand, but with large amounts of capital now flowing in, it is necessary to strike a balance between promoting investment, employment and managing the country's resources. The government has set up a committee specifically to oversee this matter, to design regulations and prepare the dedicated law, taking into account energy, fuel, cooling water and the heat discharge of data centres. Meanwhile, Bangkok Governor Chadchart Sittipunt found that some data centres store fuel oil inside their buildings, which must be seriously investigated and must obtain permission under relevant laws. Anutin also asked the Department of Public Works and Town and Country Planning, the Department of Provincial Administration, the Department of Disaster Prevention and Mitigation, the electricity authority, water agencies and the provinces that host data centres to establish a mechanism for exchanging information and working together systematically. He stressed that the government will monitor the impact on the public while the regulatory system is being put in place, so that investment can continue without creating a burden on energy, water, safety and the environment for local residents.
GMI Cloud Seeks $300M Loan for Nvidia Chips at Thailand Facility
GMI Cloud, a partner of Nvidia, is seeking a $300M loan to buy chips for its facility in Thailand, according to Bloomberg. The US-based data center operator has approached banks and private credit funds for the self-arranged financing, which would pay yields in the low-teens. Proceeds would fund chip purchases for GMI Cloud's facility, housed in ST Telemedia Global Data Centres' site in Thailand, with Tencent named as the user of the chips. The deal adds to a growing list of similar arrangements in Asia.
PROEN approves rights offering at 4:1 ratio, priced at 0.84 baht, raising 82 million baht for data center push
PROEN Corp Public Company Limited, or PROEN, informed the Stock Exchange of Thailand that its first extraordinary general meeting of shareholders for 2026, held on September 16, 2026, approved a general mandate capital increase and the allocation of newly issued ordinary shares to existing shareholders in proportion to their holdings, or a rights offering. The company will issue and offer no more than 98,142,017 new ordinary shares with a par value of 0.50 baht each, at an allocation ratio of 4 existing ordinary shares to 1 new ordinary share, at an offering price of 0.84 baht per share, representing total fundraising of no more than 82,439,294.28 baht. The company has set September 25, 2026 as the record date for shareholders entitled to subscribe to the new shares, and the subscription and payment period will run from October 19 to 22 and on October 26, 2026, a total of 5 business days, from 09:00 to 15:30. The funds raised from the capital increase, amounting to no more than 82.44 million baht, will be used as capital for investment in and development of the data center business, to provide data storage and management services, as well as to develop solutions and software supporting services to both public and private sector customers in the future. The company expects to use the funds within 2027.
Nvidia's "Bank of AI" Role Expands as Huang Targets AI's Capital Bottleneck
Nvidia is increasingly acting as what Chamath Palihapitiya called the "bank of AI," working across suppliers, infrastructure providers and financing partners to clear bottlenecks before they constrain AI deployment, Jensen Huang said at the All-In Summit. Huang described AI as a "new industrial revolution" that requires manufacturing, electricity, internet infrastructure and physical data-center capacity to scale together, not just GPUs. He said roughly $400 billion in venture financing flowed into AI companies over six months, creating jobs and massive demand for compute, which in turn drives demand for data centers. Nvidia has increasingly worked with financial institutions and other ecosystem players to make AI compute an investable, financeable asset, a strategy that turns the company into an ecosystem enabler: help customers secure capital, power and infrastructure, and Nvidia keeps supplying the computing engine underneath them. For investors, that could make Nvidia's AI opportunity considerably broader than its semiconductor market share, since the biggest constraint on AI spending may eventually be capital and infrastructure rather than demand for GPUs.
IREN has signed a roughly US$5.50 billion, five-year partnership with Nvidia tied to its fast-growing AI cloud services platform, prompting JPMorgan analyst Richard Choe to issue a rare double-upgrade on the company. The Nvidia deal sits alongside a US$3.65 billion GPU financing facility, and together the two agreements underpin IREN's goal of scaling to 480MW of AI Cloud capacity by the end of 2026. The company is also winding down Bitcoin mining and expanding vertically integrated AI infrastructure, a material redefinition of its core business model. IREN's narrative projects $8.7 billion in revenue and $504.8 million in earnings by 2029, while the most optimistic analysts had already assumed about US$14.7 billion in revenue and around US$1.3 billion in earnings by that year. The company still faces near-term pressure from sizeable capex, financing needs, and execution risk around large contracted projects.