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Data-centre operators

The Index · AI infrastructureThe developers and operators that build and lease the capacity AI runs in.
What this measures

The Stack Capacity Index measures how much an entity shapes the world's AI capacity within its layer of the stack. It is built mostly from measured, sourced facts, each scored on the board's own scale; stated estimates of AI exposure, position and momentum, scored on one written rubric, add to them but never outweigh a row's own facts. A figure nobody publishes is left out, never estimated.

AI exposure reads how much of the business serves AI compute demand today. It is a stated estimate.

Scores run 0 to 100. The top 10 companies · updated 21 Oct 2026.

Stack Capacity Index: components and weights
  • Capacity in operation20%
  • Capacity in portfolio15%
  • Revenue15%
  • Data centres operated10%
  • Valuation10%
  • AI exposure (estimate)12%
  • Position (estimate)12%
  • Momentum (estimate)6%
The method in full →
10 shownCSV ↓Cite an edition
01Digital RealtyHyperscale wholesale
85.6
40.0
02EquinixColocation & interconnection
81.7
30.0
03NTT Global Data CentersHyperscale wholesale
76.9
35.0
04Aligned Data CentersHyperscale wholesale
73.9
60.0
05ST Telemedia Global Data CentresRegional platform
70.3
35.0
06AirTrunkRegional platform
69.3
55.0
07DayOneRegional platform
68.0
55.0
08Khazna Data CentersRegional platform
67.3
60.0
09STACK InfrastructureHyperscale wholesale
67.0
50.0
10Galaxy Digital (Helios)Bitcoin-to-AI conversion
65.8
90.0

Index scores are model outputs, not predictions. The facts behind each score are sourced, and the estimates are stated with their basis in the full dataset, where figures resting on a secondary source are marked.

Go further. The full table, the full indicator set, history back to the modelled backcast, trajectories and custom peer groups for this table are available to clients. Request a briefing