AI trade isn’t dead: An inside look into Wall Street's lucrative data center deals

Megawatts are still trading hands, and the AI trade is very much alive, according to investment banker Joe Nardini, as miners pivot to HPC and buyers chase scarce power. What to know : Bitcoin miners and AI/HPC developers are still bidding aggressively for megawatts, even into late Dec., according to investment banker Joe Nardini. GPU-heavy data center capacity is drawing multiple creditworthy tenants at strong rates. Nardini noted that bitcoin miners that repositioned toward HPC are seeing higher valuations and accessing cheaper capital.