What the AI Arms Race Means for Data-Center REITs
2025 is about concrete, steel, and electricity. The spotlight has shifted—from language model performance to the physical infrastructure required to support them. In the first half of the year, infrastructure—not model output—emerged as the true center of AI strategy. OpenAI, Microsoft, Meta, and others are now committing hundreds of billions to build the physical backbone of the AI economy. That means real assets: land, power, cooling, and vast data centers.
