Pragada: These data centers are getting bigger, up to 700 megawatts

Data Center Industry & AI Buildout - Data centers are evolving from 50-150 megawatt facilities to 700+ megawatts to handle AI and compute loads [2] - Jacobs' data center project pipeline has grown fivefold in the last two quarters, with ongoing equipment orders and site selections [3] - Data storage world is currently at capacity, driving the need for continued data center buildout [5] - AI buildout is contributing significantly to the projected US growth of just under 25% (2.4%) [16] - Quantum computing facilities are more complex and represent the next phase of computing beyond AI data centers, currently focused on R&D [12][13][14] Healthcare & Life Sciences - GLP-1 buildout is in the "middle innings" for injectable forms, with new companies and delivery methods (tablets) driving further capacity and capital buildout [8] - Life sciences sector is experiencing growth in oncology and other cancer therapies, beyond just GLP-1s [17] Financial Performance & Tax - The company's effective tax rate increased to almost 40% in the last fiscal year, compared to under 17% the previous year, due to R&D tax credits and international taxes [9][11] - The full effect of the Trump tax policy is still being implemented, with expectations of seeing early elements of it from 2026 onwards [10] Infrastructure & Reshoring - Infrastructure spending related to water, transportation, energy, and power needs for urbanization is driving business [17] - There are tailwinds for domestic reshoring and construction beyond GLP-1s and AI [16]