Prologis exec explains why the company has an edge in the red-hot data center space

Core Insights - Prologis is leveraging its access to land, energy, capital, and experience to expand its data center business, which is becoming increasingly relevant in the current market [1][2] - The company plans to invest up to $8 billion to build data centers across approximately 20 property sites, capitalizing on the growing demand for data center construction in the US [3][4] Company Overview - Prologis has a global portfolio of 1.3 billion square feet across more than 5,500 buildings, primarily known for its warehouses, but is now focusing on data centers [2] - The company has secured 1.1 gigawatts of power, with an additional 2.2 gigawatts in advanced procurement stages, indicating a strong commitment to energy supply for its data centers [4][5] Industry Context - The US data center construction spending reached a record $40 billion in June 2023, marking a 28% increase compared to 2024, highlighting the industry's rapid growth [3] - The demand for energy in developing AI systems is significant, with Nvidia announcing a $100 billion investment in OpenAI to build 10 gigawatts of AI data centers, showcasing the competitive landscape [5]