Data Centers · Report

Long-term AI data-center leases are stretching to 20 years as power availability becomes the limiting factor in site selection.

Extended lease terms signal that power, not computing hardware, is now the primary constraint on capacity expansion for AI infrastructure buildout.

Trade pressSlicast · September 30, 2026 at 14:32 UTC · US · Source: The Globe and Mail

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The global AI data center market is projected to grow from USD 471.59 billion in 2026 to USD 2,023.52 billion by 2032, representing a compound annual growth rate of 27.5%, according to MarketsandMarkets.

Much of that expansion is being financed through long-term leases. Companies with power already connected are signing 15- to 20-year take-or-pay contracts with investment-grade tenants, then financing the buildout against the guaranteed rental income. This structure has effectively made power—not the real estate—the primary asset in data center development.

Active participants advancing developments include Host Digital Inc. (NYSE American: HOST), CleanSpark Inc. (NASDAQ: CLSK), Hut 8 Corp. (NASDAQ: HUT), TeraWulf Inc. (NASDAQ: WULF), and Core Scientific Inc. (NASDAQ: CORZ).

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