US / Global · Power & Cooling

Data Center Land & Buildings

Powered land, permits and local consent decide when megawatts become racks. Power access now matters more than steel and concrete.

Land→Power→Shell→Tenant

Tightness score ⓘ

#27 of 56

■ Stable

Supply concentration2

Lead time4

Capex intensity5

Geopolitical exposure2

Pricing power4

Lead time

18–36 mo

Theme 1M

−20.3%

% in uptrend

Metric to watch

Vacancy in key metros, powered-shell pricing, and project cancellations from local opposition.

What would prove us wrong

Weakens if vacant powered capacity appears in key metros with falling rents.

Dependencies

Equal-weight · rebased 100 · 1Y

Stocks we track

Who controls this bottleneck

Roles, not recommendations. Delayed prices; local currency.

Stock	Role	Listing	Last	1D	1M	3M	YTD	Off 52w high	Next earnings
EQIX Equinix	Global interconnection and colocation	NASDAQ US	$1,013.7	−2.22%	+0.1%	−1.2%	+34.3%	−8.7%	2026-10-28
DLR Digital Realty	Powered shells and hyperscale campuses	NYSE US	$180.7	−1.21%	+2.4%	−4.8%	+19.2%	−10.2%	2026-10-29
IREN IREN	Power-secured campuses pivoting to AI cloud	NASDAQ Australia/US	$23.95	−8.76%	−41.1%	−39.8%	−36.6%	−68.7%	2026-11-05
APLD Applied Digital	High-density AI campuses	NASDAQ US	$17.82	−8.22%	−26.3%	−39.6%	−27.4%	−64.1%	2027-01-06
CORZ Core Scientific	Power-rich sites converted to AI hosting	NASDAQ US	$13.25	−8.18%	−19.0%	−42.0%	−9.0%	−54.6%	2026-11-05
CRWV CoreWeave	GPU cloud; large consumer of powered shells	NASDAQ US	$54.87	−9.66%	−38.0%	−36.0%	−23.4%	−60.2%	2026-11-10

Auto-updated