Data centers become real estate

AI will make digital infrastructure more valuable.

By AKA Studio

What’s inside

• MSFT Microsoft: Cloud infrastructure and enterprise AI; largest single buyer of AI capacity
• AMZN Amazon: Warehouses, robotics deployment, and cloud; AWS capacity is the belief in physical form
• GOOGL Alphabet: AI platforms, advertising, and autonomy research; capex guided up toward $185bn
• ORCL Oracle: Cloud computing and database infrastructure; most levered backlog to AI contracts
• EQIX Equinix: Data-center infrastructure; interconnection density gets scarcer as AI traffic grows
• DLR Digital Realty: Data-center real estate; its CEO says demand is well outpacing supply
• VRT Vertiv: Data-center cooling and power systems; every new megawatt needs its kit
• ETN Eaton: Electrical equipment and power management; sells switchgear into every campus
• GEV GE Vernova: Turbines and grid gear for the generation data centers must contract years ahead
• NVDA NVIDIA: Huang says this new way of computing is not going back; the buildout's core component
• AVGO Broadcom: Custom accelerators and data-center networking for hyperscalers building their own silicon

Why it could work

AI will make digital infrastructure more valuable. The basket combines direct participants and broader suppliers.

What could break it

Adoption could disappoint, competition could weaken margins, or high valuations could already price in the trend. Some holdings are broad, indirect proxies.

For learning only. Not investment advice.