Data Centers

Oracle’s stock surged 28% after hours following its earnings call, driven by optimistic forward-looking projections for its cloud infrastructure business and new AI deals. Analysts were “blown away” by the anticipated 77% revenue increase in cloud infrastructure. Oracle also announced multi-billion-dollar contracts, including a collaboration with OpenAI to develop data center capacity and a substantial increase in remaining performance obligations, signaling strong future revenue. The company’s strategic focus on technology and networking, rather than owning data center buildings, also contributed to the positive outlook.

Saudi Arabia, through Humain, aims to become a global AI leader, rivaling the US and China, by leveraging its resources for data centers. Backed by the PIF, Humain is investing heavily in AI infrastructure, partnering with Nvidia and AMD, with plans to build massive data centers. The Kingdom faces challenges including competition from the UAE, talent acquisition, and economic feasibility. While significant investments are being made, questions remain about attracting and retaining AI engineers and long-term environmental impacts of large-scale data center operations.

Centuri Holdings, Inc. (CTRI) announced over $300 million in new customer awards, demonstrating strong demand for its energy solutions. The awards include projects across the Northeast, Southeast, and Midwest, including a significant award to power a large data center complex in Pennsylvania. New Master Service Agreements were secured with a gas utility client and an existing electric client. These wins reflect Centuri’s strategy to capture market opportunities and deliver growth by offering comprehensive utility infrastructure services.

OpenAI is significantly expanding its AI infrastructure through a massive deal with Oracle to build new data centers across the US as part of its Stargate initiative. These centers, requiring 4.5 gigawatts of power, will house over two million chips and support wider access to advanced AI. This supports OpenAI’s pledge to invest heavily in US AI infrastructure, potentially exceeding $500 billion, and is projected to create over 100,000 jobs. Collaborations also include SoftBank and Microsoft, highlighting the extensive industrial effort behind AI development.

Energy Plug Technologies Corp. has secured an exclusive distribution agreement with Taiwan’s SEETEL New Energy Co., Ltd. for their advanced energy storage systems in Canada, under the “MBT-SEETEL” brand. This partnership aims to supply critical infrastructure sectors like data centers and defense installations across North America. The deal includes dedicated Canadian production capacity and leverages a joint venture with the Malahat First Nation.

Alibaba Cloud is expanding its global infrastructure with new data centers in Malaysia and the Philippines, bringing its total to 29 regions. This expansion supports the growing demand for cloud and AI services. Additionally, Alibaba Cloud is launching a Global AI Capability Center to foster industry-AI collaboration and talent development, while also enhancing its AI technologies like PAI and DTS for international markets. New Intel-powered ECS instances are also rolling out globally.

IREN Limited has appointed Anthony Lewis as its new Chief Capital Officer to bolster its capital markets strategy and fuel aggressive growth in the AI infrastructure sector. Lewis brings over two decades of financial markets experience, including a significant tenure at Macquarie Group, to shape IREN’s capital structure and financing initiatives.