3 Stocks Tied To AI Data Centers As Anthropic Spending Drives Infrastructure Demand

AI excitement just jumped a gear after Anthropic reported US$16.8b in Q3 revenue and flagged a blockbuster IPO, and that kind of money needs somewhere physical to live: racks, power, concrete. If you think the real prize might sit in the companies that own and run the digital plumbing behind those models, this piece is for you. Ahead, you will see three stocks exposed to this news and how they could benefit.

The three stocks below are just a first look, and the full screen on Simply Wall St surfaced 7 more listed AI data-center real-estate and infrastructure companies with equally compelling narratives that are not covered here. If you want to identify and analyze the highest-conviction ideas in this theme, head straight into the AI Data-Center Real Estate & Infrastructure Owners screener.

DigiCo Infrastructure REIT (ASX:DGT)

DigiCo Infrastructure REIT plugs straight into the AI data-center story, owning and developing facilities that can physically host the power-hungry compute Anthropic and its peers rely on. This is exactly the kind of exposure this screener is built to surface.

DigiCo Infrastructure REIT is a global data-center owner, operator and developer. It generated A$216.9 million from its diversified data-centre portfolio and carries an A$1.15b market cap that gives investors listed, pure-play real estate exposure to high-density compute infrastructure.

"The surge in AI, cloud and hyperscale computing demand is feeding into DigiCo’s qualified pipeline of more than 200 megawatts, which can support further contracting at Sydney1 and across Australia, with a direct read through to contracted revenue and future EBITDA."

What happens to DigiCo’s future margins and growth will hinge on how one unseen pressure around funding and build costs ultimately resolves.

That funding question is exactly what the full narrative for DigiCo Infrastructure REIT unpacks in detail, including how DigiCo Infrastructure REIT’s pipeline could accelerate or stall as capital conditions shift.

Tritax Big Box REIT (LSE:BBOX)

Tritax Big Box REIT owns and develops large UK logistics warehouses, a key physical layer behind AI driven e commerce and fulfillment, and generated about £355 million from investment in Big Box assets. With a £4.2b market cap, it is a sizeable listed way to access this infrastructure theme.

Tritax Big Box REIT links the AI data center story to the movement of goods rather than the racks of servers. The business is building power ready sites that can host over 230MW of data center capacity, while its logistics portfolio feeds AI led e commerce. Income and valuation both lean on what happens when that power first bet meets real tenant demand.

That first tenant decision is where it gets interesting, and the 4 key rewards and 4 important warning signs (1 is major!) shows how that bet could reshape Tritax Big Box REIT’s risk and upside profile.

Fermi (FRMI)

Fermi plugs straight into the AI power bottleneck, with private grids designed to feed hyperscale compute rather than the wider utility system. This is exactly the sort of infrastructure exposure this theme is hunting for.

Fermi Inc. is a pre revenue builder of gigawatt scale private power grids for AI compute and data centers, with a market cap of about US$2.4b.

"Fermi is building a large scale private power grid and related infrastructure to supply electricity to energy intensive tenants such as data centers and chip ecosystem players. The scarcity of suitable generation equipment and large scale permits, including Fermi's 6 gigawatt air permit and application for an additional 5 gigawatts, can improve its negotiating position with tenants that are competing for power."

What happens when that bargaining power finally meets signed, long duration contracts could matter more to Fermi’s future returns than any other single variable.

If that contract risk reward mix is the real crux, the full narrative for Fermi shows how Fermi’s power pipeline could accelerate or stall from here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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