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Equinix's regulatory push aims to improve PJM reliability, reducing power constraints for its data centers.
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CoreWeave partners with AdaniConneX for first India data centers
CoreWeave Inc. announced it will establish its first data centers in India through a partnership with AdaniConneX Pvt., a joint venture between Adani Group and EdgeConneX. The AI cloud-computing provider will utilize 240 megawatts of capacity at AdaniConneX's Taloja campus in Navi Mumbai, with an option to expand to 480 megawatts, and plans to open an office in India. The total investment is projected to reach multiple billions of dollars throughout the project's duration, with the first data centers scheduled to begin operations in mid-2028. CoreWeave will install Nvidia Corp. Vera Rubin chips at the facilities for tasks including training and operating models, managing reasoning functions, and supporting AI agents. The move follows CoreWeave's initial Asian entry in August with projects in Indonesia, and comes after CEO Mike Intrator said last month the company is largely sold out of capacity; CoreWeave reported approximately 4.2 gigawatts of contracted power in August.
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CRWV · Capital · Positive CoreWeave announces multi-billion-dollar India data center investment via AdaniConneX partnership, expanding its capacity footprint.
AdaniConneX · Demand · Positive AdaniConneX secures CoreWeave as anchor tenant for 240MW at its Taloja campus, with expansion option to 480MW.
Adani Group · Capital · Positive Adani Group's JV AdaniConneX lands CoreWeave as a major data center tenant with multi-billion-dollar investment.
NVDA · Demand · Positive CoreWeave will install Nvidia Vera Rubin chips at its new India facilities, representing product demand for Nvidia.
JapanUnited States
European Union▲
AirTrunk to Invest $1 Billion in Japan Data Center Expansion
Blackstone-backed data centre operator AirTrunk plans to invest $1 billion to expand its TOK1 campus in Inzai, Japan, as demand for infrastructure to support artificial intelligence workloads grows. The investment will support the deployment of liquid-cooling technology for AI workloads at TOK1, which has more than 300 megawatts of capacity. AirTrunk CEO Robin Khuda said geopolitical factors are driving more customers to Japan as a North Asian hub. Khuda also said AI infrastructure deployment is becoming more difficult in the U.S. and is already challenging in Europe, making Asia a major beneficiary.
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AirTrunk · Capital · Positive AirTrunk plans to invest $1 billion to expand its TOK1 campus in Inzai, Japan, deploying liquid-cooling for AI workloads.
BX · Capital · Positive Blackstone-backed AirTrunk's $1B Japan data center expansion is a positive development for its portfolio company.
United States3
Digital Realty Prices €1B of 5.125% Guaranteed Notes Due 2036
Digital Realty said Tuesday that Digital Euro Finco, LLC, a wholly owned indirect finance subsidiary of its operating partnership Digital Realty Trust, L.P., priced an offering of €1 billion aggregate principal amount of 5.125% Guaranteed Notes due 2036 at 99.289% of the principal amount. The euro notes will be senior unsecured obligations of Digital Euro Finco, LLC and will be fully and unconditionally guaranteed by the company and the operating partnership. Interest is payable annually in arrears at 5.125% per annum from and including October 9, 2026, and the notes mature on October 9, 2036. Closing of the offering is expected to occur on October 9, 2026.
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Digital Euro Finco, LLC · Capital · Neutral Digital Euro Finco priced €1B of 5.125% guaranteed notes due 2036, a debt financing event for the Digital Realty subsidiary.
ThailandKGI highlights AMATA and WHA as beneficiaries of Data Center rules, expected in 2027
KGI Securities said the Ministry of Interior is preparing a specific ministerial regulation to upgrade Data Centers into systematically regulated businesses, after Data Center investment expanded rapidly and electricity demand is expected to possibly exceed 20,000 MW. The regulation designates Data Centers as controlled-use buildings and divides oversight by size and resource use into 8 tiers, Tier 0 to Tier 5, using key criteria such as electrical capacity, reserve water volume, and building size. Medium to large projects must assess their electricity and water impact, and areas that are Grid or Water Hotspots must obtain Utility Confirmation. Meanwhile, large projects using 50 MW or more of electricity, or clusters totaling 100 MW or more, must pass a National Strategic Review and manage electricity use on a phased basis so as not to affect the stability of the power system. The draft ministerial regulation is expected to enter consideration around October 2026, go before the Cabinet for approval in principle around January 2027, and be published in the Royal Gazette with effect around June 2027. Existing Data Centers must upgrade key systems within one year. KGI said the stricter criteria are in line with expectations and largely already priced in, but the enforcement timeline expected in mid-2027 is slower than anticipated, and it remains to be seen how much the government can accelerate the process. Its current recommendation is Buy for AMATA and WHA, with target prices of 37 baht and 5.90 baht respectively. The news could cause share prices to fluctuate in the short term.
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AMATA.BK · Regulation · Positive KGI names AMATA a beneficiary of the new Data Center ministerial regulation, reiterating Buy with a 37 baht target price.
WHA.BK · Regulation · Positive KGI names WHA a beneficiary of the stricter Data Center regulation, reiterating Buy with a 5.90 baht target price.
JapanUnited States▲
Digital Realty Begins Construction of 24 MW KIX15 Data Center in Osaka
Digital Realty announced the commencement of construction of KIX15, a new 24 megawatt data center at its KIX Campus in Ibaraki City, Osaka Prefecture, Japan. The facility is being developed by MC Digital Realty, Digital Realty's 50/50 joint venture in Japan with Mitsubishi Corporation, and is scheduled to commence operations in the fourth quarter of 2028. KIX15 will be the fifth data center at the KIX Campus and, upon completion, will bring MCDR's Japan portfolio to 10 data centers representing approximately 220 MW of aggregate IT capacity. The expansion follows the opening earlier this year of the NRT14 Data Center in Inzai City, Chiba Prefecture, one of the first facilities in Japan to achieve the DGX-Ready Data Center certification. KIX15 is a key component of MCDR's Kansai AI Infrastructure Co-Creation Project and is designed to support hybrid air- and liquid-cooling technologies for hyperscalers, cloud service providers and companies deploying AI infrastructure.
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MC Digital Realty · Capital · Positive MC Digital Realty, Digital Realty's Japan JV, commences construction of the 24 MW KIX15 data center, expanding its Japan portfolio to 10 data centers and ~220 MW.
8058.JP · Capital · Positive Mitsubishi Corporation's 50/50 JV MC Digital Realty begins construction of the 24 MW KIX15 data center in Osaka, expanding its Japan portfolio to 10 data centers.
United States▲
Applied Digital Q1 Preview: Analysts Expect 93% Revenue Jump to $124.57M
Applied Digital is set to report its first-quarter earnings on October 6 after the closing bell, with Wall Street expecting a loss of -$0.30 per share and revenue surging nearly 93% to $124.57M. Over the last three months, EPS estimates have drawn 2 upward revisions and no downward moves, while revenue estimates have seen 1 upward revision and 1 downward move. UBS analysts pointed to tenant expansion options at existing campuses and an already substantial 1.3 GW backlog that should improve and diversify the tenant mix. Analysts will be watching the firm's progress toward management's target of $1B in net operating income, which it now expects to achieve sooner than expected, with attention on expansion leases and their price per MW; Seeking Alpha analyst Stephen Ayers noted that reaching the $1 billion NOI target requires roughly 600 to 670 MW live, leaving almost no room for slippage at either Polaris Forge 1 or Polaris Forge 2. Ayers will also be watching capital expenditure, a key metric for AI-focused companies, after management guided Q1 capex of about $600M last quarter. Over the last two years, APLD has beaten EPS estimates 100% of the time and topped revenue estimates 75% of the time.
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APLD · Capital · Neutral Q1 earnings preview with expected 93% revenue jump, EPS loss, capex guidance, and NOI target progress; mixed signals ahead of the report.