Digital Realty is turning scarce megawatts and dense interconnection ecosystems into the physical “operating system” for AI-era computing—if it can deliver power and commencements on time.
Overview
Digital Realty Trust is positioned as the physical foundation of the global digital economy, operating the largest cloud- and carrier-neutral data center, colocation, and interconnection platform. As of Q1 2026, it spans 300+ data centers across 55 metros in 30+ countries, with PlatformDIGITAL designed to be a secure “data meeting place” for enterprise transformation, hybrid multi-cloud, and generative AI workloads. Revenue is driven by long-term leases to 5,500+ customers and is segmented into hyperscale (>1MW), colocation (0–1MW), and interconnection services. Q1 2026 delivered record revenue of $1.64B (+16% YoY) and strong profitability (Core FFO/sh $2.04, +15% YoY), supported by record bookings and pricing power in a supply-constrained power environment. The Americas remains the largest near-term bookings contributor (75%+ of new leasing), while targeted expansions in markets like Milan, Sofia, Cyberjaya, and Lisbon position DLR to benefit from data residency and latency needs. Differentiators include global scale, ecosystem density (234k+ cross-connects), AI-ready high-density infrastructure, and investment-grade balance-sheet strength (4.7x net debt/EBITDA).