IT之家 2 月 2 日消息，据彭博社报道，为了吸引更多海外投资进入数字基础设施领域，印度拟为在当地 提供全球数据中心服务的外国企业送出长达 20 年的税收优惠。 亚马逊和微软近期也加码印度市场，两家公司合计新增投资 520 亿美元（IT之家注：现汇率约合 3621.27 亿元人民币），进一步突显印度正成为人工智能、云服务和在线零售的重要增长引擎。 与此同时，印度政府还准备推出一项新规则：本地企业如果为关联的海外公司提供数据中心服务，可以 按照 15% 的"安全港"利润率执行，从而简化转让定价管理。这将帮助国内业务单位更方便地支持面向 印度以外市场的全球云服务。 当地时间 2 月 1 日，印度财政部长尼尔玛拉 · 西塔拉曼在联邦预算案中宣布，外国公司如果在印度运营 数据中心并向海外市场输出服务，那么其海外业务的税收将得到豁免，政策一直持续到 2047 年。不 过，这项免税只针对"对外服务"，如果通过本地子公司向印度国内用户提供服务，仍然需要缴税。 近年来，印度已经陆续推出多项扶持政策，包括给予数据中心"基础设施"地位，以及在多个邦放宽土地 使用限制。最新措施进一步显示，新德里希望借助数字经济和能源供给能力的提 ...

Summary of Key Points from the Conference Call Industry Overview - The focus is on China's online entertainment, data centers, and software sectors, with potential catalysts identified that could impact share prices in the near future [1][2]. Company-Specific Insights Beijing Kingsoft Office Software Inc (688111.SS) - **2025 Profit Alert**: Forecasted revenue growth of 16.5% and normalized profit growth of 11% for 2025 [7] - **Sustainability Concerns**: Expected revenue/profit beat driven by Xinchuang, but sustainability is questioned due to a one-off business model and reliance on government budgets [7] Bilibili Inc (BILI.O) - **CNY B2C AI App Marketing Campaign**: Major B2C AI apps expected to launch aggressive marketing during the CNY holiday, with Bilibili positioned to benefit due to its neutral ad platform and younger user base [7] - **New Game Launch**: Targeting another round of testing for "Three Kingdoms: N Card" after CNY, with user feedback deemed critical [7] GDS Holdings Ltd (GDS.O) - **GPU Import Regulation Update**: Anticipated Chinese government approval with conditions, which could also affect data center peers like VNET [7] - **New Booking Guidance**: Forecasting 500MW new booking target in the domestic market for 2026, up from 300MW in 2025, indicating a strong outlook [7] Kuaishou Technology (1024.HK) - **2026 Guidance**: Analysts are more bearish than consensus on Kuaishou's 2026 profit growth due to higher depreciation and normalization of income tax rates [8]. Meitu Inc (1357.HK) - **2026 Adjusted Net Profit Guidance**: Estimated adjusted net profit for 2026 is Rmb12.6 billion, with guidance expected to align with this estimate [8]. NetEase, Inc (NTES.O) - **Game Launch Timeline**: Anticipated release of "Sea of Remnants" before summer 2026, with expected annualized grossing of Rmb5 billion [8]. Tencent Music Entertainment Group (TME.N) - **Ximalaya Acquisition**: Expected Rmb1.7 billion profit contribution from Ximalaya post-acquisition, with low user base duplication anticipated [9]. - **KPOP Concert Regulations**: Loosening of restrictions on KPOP stars hosting concerts in mainland China could provide a boost [9]. Trip.com Group Ltd (TCOM.O) - **Antitrust Investigation Update**: One-off fines expected to have minimal impact, but changes in business model or commission rates could harm long-term profitability [9]. Additional Insights - The 2026 CNY holiday is projected to be nine days long, a record length, which could positively influence travel demand and consumption growth [9]. - The overall performance of the Greater China IT Services and Software industry is viewed as "In-Line" with market expectations [3]. Important Considerations - Investors should be aware of potential conflicts of interest as Morgan Stanley conducts business with companies covered in the research [4]. - The report emphasizes the importance of considering multiple factors in investment decisions, rather than relying solely on this research [4]. This summary encapsulates the key points and insights from the conference call, highlighting the potential catalysts and challenges within the specified sectors and companies.

Summary of Data Center Infrastructure and AI Demand Industry Overview - The report focuses on the **Data Center Real Estate Investment Trusts (REITs)** and the broader **AI infrastructure landscape**. - Demand for data center capacity has surged, with **5.8GW** of capacity leased in North America in **4Q25**, leading to a total absorption of **15.6GW** for the year, more than double the **~7GW** in **2024** [2][45]. Key Demand Insights - The demand pipeline in the U.S. is projected at **~26GW**, driven by **11GW** of hyperscale self-build capacity currently in development [2]. - Major players like **Oracle**, **Meta**, and **AWS** are increasing their leasing activities, particularly in tertiary markets [2]. - Forward demand signals are positive, with significant AI infrastructure projects reaching operational capacity targets of **1GW** [3][21]. Supply Constraints - Supply constraints are becoming more acute, with grid interconnection queues extending to **6+ years** in most markets and data center vacancy rates at historic lows of **<2%** [4][60]. - The adoption of **Bring Your Own Generation (BYOG)** approaches is expected to increase, particularly for larger campus locations [4]. - Labor scarcity is a growing concern, with each **GW** build requiring **3-7K** workers, while the labor pool is only growing by **~24K** per year [4][9]. Data Center REITs Outlook - The report maintains a constructive outlook on data center REITs, particularly **Digital Realty (DLR)** and **Equinix (EQIX)**, due to tight industry conditions that are expected to drive pricing higher [5][9]. - **DLR** is projected to see **7.4%** growth in FFO/share for **2026E**, supported by hyperscale leasing and mark-to-market opportunities [8]. - **EQIX** is expected to achieve **8.6%** normalized recurring revenue growth in **2026E**, with shares trading at a discounted valuation [8]. AI Infrastructure Developments - The race to **Artificial General Intelligence (AGI)** is intensifying, with major AI infrastructure projects ramping up to meet the demands of new models [9][14]. - Upcoming releases of models trained on **Blackwell systems** and the rollout of **Rubin** in **2H26** are expected to significantly impact power density and data center designs [3][41]. - The current environment is characterized by the development of greenfield data center facilities to support higher power and compute-intensive workloads [9]. Financial Projections - Hyperscale capital expenditures are projected to reach **~$585B** in **2026**, a nearly **40%** increase from previous estimates [46]. - Incremental cloud revenues are expected to rise to **$106B** in **2026**, up from **$69B** in **2025** [50]. Conclusion - The data center market is experiencing unprecedented growth driven by AI demand, with significant investments and developments expected in the coming years. However, supply constraints and labor shortages pose challenges that could impact the pace of growth. The outlook for established data center REITs remains positive, supported by strong demand and pricing dynamics.

Core Company Insights - Nvidia has generated significant cash flow, reaching $77 billion in free cash flow over the last 12 months, driven by soaring demand for its GPUs amid the AI boom [1] - Nvidia has increased its investment in CoreWeave to $2 billion, now owning 11.5% of the company, which has positively impacted CoreWeave's stock price [1][2] CoreWeave's Business Model - CoreWeave specializes in AI-focused data centers, renting them to major tech companies like Microsoft and Meta, benefiting from its close relationship with Nvidia [2][4] - The partnership with Nvidia allows CoreWeave access to advanced GPU technology and infrastructure, enhancing its service capabilities [4] Financial Backing and Growth Plans - Nvidia is committed to supporting CoreWeave's expansion, with an obligation to cover any unused capacity up to $6.3 billion until April 2032 [5] - CoreWeave plans to utilize the $2 billion from Nvidia to accelerate the construction of 5 gigawatts of AI data centers by 2030, although the total costs will exceed this amount [6] Debt and Financial Challenges - CoreWeave has a substantial backlog of contracts valued at $55.6 billion, which helps secure financing from lenders due to its relationship with Nvidia [7] - However, the company faces significant interest expenses, totaling $841.4 million in the first nine months of 2025, which is four times higher than the previous year, impacting profitability [8] - Operating income for CoreWeave has decreased to $43.6 million in the same period, down from $211.7 million, indicating challenges in the economics of its data center operations [8]

Investment in AI Data Centers - Digital Connexion plans to invest $11 billion by 2030 to develop a 1-gigawatt AI-focused data center campus in Andhra Pradesh, highlighting significant interest from both domestic and global investors in AI infrastructure [1] - Google announced a $15 billion investment to build an AI hub and expand data-center infrastructure in India, following a previous $10 billion commitment in 2020 [2] - Microsoft plans to invest $17.5 billion by 2029 to expand its AI and cloud footprint in India [2] - Amazon will invest an additional $35 billion in India by 2030, raising its total planned commitment to approximately $75 billion [2] Strategic Importance of Data Centers - The U.S. cloud giants are racing to add data-center capacity globally, with India emerging as an attractive location due to its engineering talent and demand for cloud services [3] - India's finance minister proposed a tax holiday on revenues from cloud services sold outside India if run from local data centers, aiming to attract foreign investment [4][5] - The budget also includes a 15% cost-plus safe harbor for Indian data-center operators providing services to foreign entities [4] Challenges and Projections - Scaling up data center capacity in India faces challenges such as power shortages, high electricity costs, and water scarcity, which could impact construction and operating costs [6] - India's data-center power capacity is projected to exceed 2 gigawatts by 2026 and could expand to over 8 gigawatts by 2030, driven by capital investments exceeding $30 billion [8] Broader Economic Initiatives - The Indian government is increasing its focus on electronics and semiconductor manufacturing, launching a second phase of the India Semiconductor Mission to enhance domestic production capabilities [10] - The budget raised the outlay for the Electronics Components Manufacturing Scheme to ₹400 billion (around $4.36 billion) to attract global suppliers and reduce reliance on imports [11][12] - Measures to boost cross-border e-commerce include removing the ₹1 million (around $11,000) value cap per consignment on courier exports, benefiting small manufacturers and startups [15] Long-term Vision - The latest measures emphasize India's ambition to become a long-term hub for global technology infrastructure, focusing on cloud computing, electronics manufacturing, and critical minerals [16]

Core Insights - The demand for AI data center hardware is increasing, with chipmakers' shares rising due to renewed interest beyond Nvidia's processors [1][3] - Nvidia announced a $2 billion investment in CoreWeave to enhance U.S. data center capacity, aiming for 5 gigawatts by 2030 [2] - U.S. technology earnings are projected to grow by approximately 27% in Q4, significantly outpacing the broader S&P 500's expected 9.2% rise, highlighting the impact of AI on corporate profits [3] Company Highlights - **Digital Realty Trust, Inc. (NYSE:DLR)** has an upside potential of 17.51% and is supported by 43 hedge fund holders [8] - Digital Realty is expanding into Malaysia by acquiring CSF Advisers, enhancing its data center capabilities in a key region [9] - The company plans to acquire adjacent land to increase capacity by up to 14 megawatts, with the deal expected to close in H1 2026 [10] - Digital Realty's Malaysian campus will integrate into its PlatformDIGITAL, improving interconnectivity and scalability in Southeast Asia [11] - Scotiabank has adjusted its price target for Digital Realty from $206 to $189 while maintaining an 'Outperform' rating [12] - **American Tower Corporation (NYSE:AMT)** has an upside potential of 19.92% and is backed by 75 hedge fund holders [14] - Over 70% of analysts are bullish on American Tower, with UBS maintaining a Buy rating but lowering the price target from $260 to $254 [14] - Scotiabank and JPMorgan have also reiterated positive ratings for American Tower, with price targets adjusted due to market conditions [15][16] - American Tower focuses on managing multitenant communications infrastructure and operates data centers through its subsidiary CoreSite [17]

Group 1 - The consortium is close to finalizing a deal to acquire ST Telemedia Global Data Centres, with the transaction valued at over $10 billion [1]

Core Insights - The article highlights several stocks that are trading near buy points, with a focus on companies benefiting from data center expansion [1] Group 1: Stocks to Watch - GE Vernova (GEV) has successfully broken out past a buy point [1] - Vertiv Holdings (VRT), Dycom Industries (DY), Halozyme Therapeutics (HALO), and Viking Holdings (VIK) are also identified as stocks to watch, trading near buy points [1] - Among these, GE Vernova, Vertiv, and Dycom have reported a 35% growth in earnings per share, indicating strong performance linked to data center expansion [1] Group 2: Market Context - The article notes that the U.S. government is entering a shutdown, which may impact market conditions [1] - Despite market fluctuations, certain stocks like GE Vernova and others are highlighted for their potential as they approach key levels [1]

LAS VEGAS, Jan. 30, 2026 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK) ("CleanSpark" or the "Company"), will discuss its fiscal first quarter 2026 financial results via a live webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Thursday, February 5, 2026. Harry Sudock 702-989-7693 [email protected] Media Contact Eleni Stylianou 702-989-7694 [email protected] SOURCE CleanSpark, Inc. About CleanSpark CleanSpark (Nasdaq: CLSK), is a market-leading data center developer with a proven track record of success. ...

Core Viewpoint - A class action lawsuit has been initiated against CoreWeave, Inc. (NASDAQ: CRWV) for allegedly misleading investors about its AI infrastructure scalability and revenue guidance [1][3] Allegations of Misrepresentation - CoreWeave is accused of overstating its capacity to meet customer demand while downplaying operational risks associated with reliance on a single third-party data center supplier [2][6] - The lawsuit highlights significant delays at CoreWeave's Denton, Texas data center, which were reportedly concealed from investors [6] Financial Impact - Following the revelation of construction delays, CoreWeave's market capitalization fell by approximately $14 billion, with a notable 16% drop in stock price on November 11 after the company lowered its revenue guidance [2][6] Legal Proceedings - The lead plaintiff deadline for the class action is set for March 13, 2026, and investors who suffered losses during the class period (March 28, 2025 – December 15, 2025) are encouraged to report their losses [4][5] Company Background - Hagens Berman, the law firm leading the investigation, specializes in prosecuting securities fraud cases and has a history of securing significant recoveries for investors [8]