Group 1: Industry Developments - The successful launch of the world's first "space computing constellation" by China last month has set a precedent for space-based data centers [1] - Starcloud plans to send a satellite equipped with NVIDIA H100 chips into space in August, aiming to establish a gigawatt-level data center powered by a large solar array [1] - The AI revolution is driving new infrastructure development, with supportive policies and active investments from internet cloud providers and operators, leading to a new growth cycle for data center service providers [1] Group 2: AI Model Advancements - Since 2025, domestic AI large models have accelerated technological leaps through algorithm and engineering innovations, with DeepSeek-R1's inference capabilities comparable to OpenAI's models [2] - Alibaba has released a trillion-level MoE architecture model Qwen2.5-Max, while Doubao leverages ByteDance's ecosystem to enhance model capabilities [2] - The demand for AI models is surging, prompting major cloud players to significantly increase their capital expenditures [2] Group 3: Company Insights - Xiechuang Data focuses on AIDC computing infrastructure, providing integrated services through "hardware manufacturing + cloud services + circular economy" [3] - Kehua Data leverages power electronics technology to offer a unique "hardware + service + energy" integrated solution in the AIDC sector [3] - Zhongji Xuchuang is driven by technology and plays a crucial role in global computing infrastructure construction, being a key player in the AIDC industry chain [3]

Group 1: C3.ai Overview - C3.ai went public four and a half years ago but currently trades nearly 40% below its IPO price, facing challenges such as cooled growth and customer concentration issues [2] - Despite difficulties, C3.ai's top-line growth accelerated in fiscal 2024 and fiscal 2025, extending a crucial deal with its largest client, Baker Hughes, which accounts for over 30% of its revenue [3] - Analysts expect C3.ai's revenue to grow at a compound annual rate of 19% from fiscal 2025 to fiscal 2027, but it trades at 7.5 times this year's sales and does not expect to turn profitable soon [5] Group 2: Applied Digital Overview - Applied Digital builds and rents out data centers to cloud and AI companies, benefiting from the AI boom and transitioning into a real estate investment trust (REIT) [7][8] - The company operates five data centers in North Dakota and plans to open more in South Dakota and Iowa, with a projected revenue growth rate of 48% from fiscal 2024 to fiscal 2027 [9][10] - If Applied Digital divests its cloud business and invests in expanding data centers, it could justify its higher valuation and potentially eclipse C3.ai's valuation in the next two years [11] Group 3: DigitalOcean Overview - DigitalOcean operates a cloud infrastructure platform targeting smaller customers, differentiating itself from larger public cloud providers [12] - The company has expanded through acquisitions, including Cloudways in 2022 and Paperspace in 2023, serving over 600,000 customers with a focus on larger clients [13] - Analysts expect DigitalOcean's revenue and EPS to grow at compound annual rates of 14% and 12% from 2024 to 2027, with a market cap of $2.7 billion and trading at 3.1 times this year's sales [14]

Core Insights - Applied Digital's stock experienced significant gains, closing up 8.5% in a day, with its share price more than doubling over the past week [1][3] - The bullish sentiment was driven by the latest jobs report from the Bureau of Labor Statistics (BLS), which showed the U.S. economy added 139,000 net jobs in May, exceeding economists' expectations of 125,000 [3][4] - Despite concerns that strong job growth could indicate higher inflation, the BLS revised previous months' job growth figures downward, which may alleviate inflation fears and support growth stocks like Applied Digital [4][5] Company Developments - Applied Digital has entered a new data-center lease agreement with CoreWeave, expecting to generate over $7 billion in sales from service agreements over the next 15 years [6] - Following its recent valuation gains, the company is now valued at approximately 12 times this year's expected sales, indicating a potential for entering a new growth phase [7]

Core Insights - Applied Digital (APLD) is implementing an ambitious expansion strategy focused on hyperscale infrastructure, supported by significant investments from Macquarie Asset Management and SMBC totaling up to $5.375 billion [1][7] - The Ellendale campus is central to APLD's data center vision, with the first building expected to provide 100 megawatts of IT load by the end of 2025, and plans for additional buildings to increase capacity to over 400 megawatts [2][7] - APLD aims to become a leader in high-performance computing (HPC) infrastructure and is exploring strategic alternatives for its Cloud Services business, potentially transitioning to a REIT structure [3][7] Competition Update - CoreWeave (CRWV) has raised over $1 billion to expand its GPU-powered data center capacity, positioning itself as a significant competitor in the AI-focused cloud market [4] - Equinix (EQIX) announced a joint venture to raise over $15 billion for expanding its xScale data centers in the U.S., adding more than 1.5 gigawatts of capacity to meet AI and cloud demands [5] Financial Performance - APLD's shares have increased by 67.1% year-to-date, contrasting with a 5% decline in the industry [6] - The company trades at a forward price-to-earnings ratio of 12.85, which is above the industry average and its five-year median of 1.42 [8] - The Zacks Consensus Estimate indicates a projected 73.6% rise in APLD's fiscal 2026 earnings year-over-year [9]

Digital Infrastructure Digest: NVDA Data Center Analysis Updates Our updated NVDA chip power analysis shows 2025 demand has increased from 8.1 GW to 8.4 GW due to higher chip volume projections. NVDA earnings once again emphasized the demand for AI chips and inference solutions as companies rush to build applications and secure data center leases. ORCL's Stargate project also signifies growing chip demand, with plans to purchase up to 400k GB200s, much higher than earlier reports of 64k GB200s by 2026. Upda ...

Core Points - HRC World PLC announced changes to its Board of Directors, including the resignation of Mr. Shailen Gajera as Director and Chairman, and the re-designation of Simon James Retter as Non-Executive Chairman and Alex George as Executive Director [2][4] Company Overview - HRC World PLC is a UK public company listed on Nasdaq First North Copenhagen, engaged in the development and operation of data centre facilities, offering end-to-end services including Engineering, Procurement, Construction, Commissioning (EPCC), and Operations & Maintenance (O&M) [3] - The company focuses on small to medium-scale distributed data centres and is committed to sustainable innovation, developing renewable energy solutions such as solar, hydroelectric, wind, biogas, and exploring emerging technologies like nano-nuclear reactors [3]

Core Insights - Accelsius has deployed a Thermal Simulation Rack at Global Switch's new London showroom, marking a significant milestone in their European operations [1][4] - Global Switch is committed to sustainability and innovation, focusing on liquid cooling technologies to educate their customers [2][5] - The "Future Now: London Live Liquid Cooling Showcase" event will take place from June 9-13, providing an opportunity for industry leaders to experience Accelsius' cooling technology [3] Company and Technology Highlights - The Accelsius Thermal Simulation Rack is designed to replicate real-world heat loads from AI and HPC deployments, allowing for live testing of cooling solutions [4] - Accelsius' two-phase liquid cooling system utilizes a dielectric refrigerant for superior heat removal, aimed at meeting the demands of AI and high-performance computing while reducing energy consumption [5] - The showroom is expected to attract over 150 customers from around 40 global organizations, indicating a growing interest in liquid cooling as a sustainable alternative to traditional air cooling [5] Industry Context - Global Switch is recognized as a pioneer in adopting advanced data center technologies, showcasing Accelsius' Thermal Simulation Rack as part of their commitment to innovation [2][5] - The collaboration between Accelsius and Global Switch highlights the industry's shift towards energy-efficient cooling solutions in data centers [5]

Core Viewpoint - Hyperscale Data, Inc. is expanding its payment options by accepting the $PEPE meme coin on its subsidiary Bitnile.com, enhancing user experience and providing practical applications for meme coins [1][3]. Group 1: Payment Integration - Starting July 1, 2025, $PEPE will be accepted as a payment method on Bitnile.com for purchasing the Nile Package, which includes virtual in-game currency, Nile tokens [1][2]. - The Nile tokens are used for various casino-style social games on Bitnile.com, while Nile sweeps coins, which cannot be purchased, provide sweepstakes entries for potential prizes [2]. Group 2: Promotional Activities - Bitnile.com plans to accept $TRUMP coin starting June 15, 2025, with a promotional offer that triples the number of Tokens and Coins for purchases made with $TRUMP during the first month [3]. Group 3: Company Structure and Operations - Hyperscale Data operates through its subsidiary Sentinum, which runs a data center for mining digital assets and providing colocation and hosting services, particularly for AI ecosystems [5]. - The company intends to divest Ault Capital Group, Inc. (ACG) by December 31, 2025, focusing solely on data center operations and high-performance computing services thereafter [6]. Group 4: Shareholder Information - On December 23, 2024, the company issued one million shares of Series F Exchangeable Preferred Stock to common stockholders, which will be exchanged for shares of ACG during the divestiture [7].

Core Insights - Amazon plans to invest $10 billion in North Carolina to build a campus focused on cloud computing and artificial intelligence, significantly boosting the local economy [1][2] - The investment is expected to create at least 500 jobs directly and support thousands more through construction and supply chain activities [2][4] - The project is described as one of the largest investments in North Carolina's history, with the potential to transform Richmond County [2][5] Investment Details - The Richmond County site will employ engineers, network and security specialists, and other technical roles, with Amazon committing to support local educational institutions for workforce training [4][5] - The investment includes an incentives package approved by Richmond County commissioners, which may provide annual cash grants for 20 years based on job creation and investment thresholds [5][6] Economic Impact - The project is anticipated to lead to significant upgrades in local infrastructure, including water systems and fiber optic networks, at no cost to taxpayers [6] - Governor Josh Stein emphasized that the investment positions North Carolina as a hub for advanced technology and innovation [7] Historical Context - Amazon has previously invested $12 billion in North Carolina since 2010, supporting approximately 24,000 full- and part-time jobs [8]

Investment Rating - The report highlights 44 Buy-rated stocks that are expected to benefit from the AI/data center power surge, including Quanta Services, GE Vernova, Xcel, Cameco, and NextEra [3][54][57] Core Insights - Strong demand and government actions are driving an average cost increase of 23% for new power generation capacity additions in the US, with a focus on reliability and affordability in power sourcing [1][12] - The Green Reliability Premium, which accounts for redundancy in power solutions, is projected to rise significantly if IRA renewables incentives are eliminated, impacting the overall cost structure for data centers [2][42] - The report anticipates a 160% increase in global data center power demand (AI + non-AI) by 2030 compared to 2023, equivalent to adding another top 10 power-consuming country [21][27] Summary by Sections Green Reliability Premium - The Green Reliability Premium is estimated to be $40/MWh with current IRA incentives, increasing to $55/MWh if these incentives are removed, representing a modest impact on hyperscaler EBITDA [42][44] - The report emphasizes that the cost of power is not seen as a constraint to data center growth, although regional power reliability and affordability will influence siting decisions [21][46] Power Demand and Supply - The US power demand is expected to grow at a CAGR of 2.5% through 2030, with data centers contributing approximately 100 basis points to this growth [22][24] - The report outlines diverse drivers of upward cost pressure across power generation, including tariffs and demand for natural gas, which could lead to significant increases in levelized costs [12][19] Investment Opportunities - The report identifies a bullish outlook for infrastructure contractors, regulated utilities, and industrials due to the rising demand for reliable power amid aging infrastructure and extreme weather events [3][54] - It highlights the importance of an all-of-the-above approach to power sourcing, considering the variability in supply availability and time to market [1][46]