Analyst Notes

3Q25 IB: Energy and data centre operating world collaborating and converging

December 12, 2025
Philbert Shih

Data centre operators increasingly work in close collaboration with energy companies. ...

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3Q25 IB: Hyperscale end user world expanding as multi-MW consumer demographic grows

December 12, 2025
Philbert Shih

The hyperscale market has been an exclusive group, but there are signs that universe is starting to ...

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3Q25 IB: Earnings season showed more signs of growth acceleration across the ecosystem

December 12, 2025
Philbert Shih

The 3Q25 earnings period picked up on the momentum building in the preceding quarters and there are ...

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3Q25 IB: Hyperscale, AI platforms using more cloud-based infrastructure to diversity and get to market

December 12, 2025
Philbert Shih

Neoclouds and hyperscale platforms like Meta are taking down large volumes of hyperscale cloud infra...

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3Q25 IB: Cryptocurrency firms continue to cross over into data centre space and are winning deals

December 12, 2025
Philbert Shih

Cryptocurrency companies continue to move aggressively into the data centre colocation market. ...

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3Q25 IB: CoreWeave to start self-building data centres sooner than expected

December 12, 2025
Philbert Shih

One of the main reasons CoreWeave tried to acquire Core Scientific was to accelerate its ability to ...

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3Q25 IB: Chinese hyperscale recovery set to drive demand for data centre colocation

December 12, 2025
Philbert Shih

The Chinese hyperscale clouds continue to show improved performance levels. Bellwether Alibaba Cloud...

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3Q25 IB: Hyperscalers looking at external financing

December 12, 2025
Philbert Shih

Hyperscalers are starting to look at external financing resources to fund the massive infrastructure...

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3Q25 IB: Overbuild talk has dissipated as sector pushes forward with the absence of key red flag

December 12, 2025
Philbert Shih

The talk about an overbuild situation that dominated the first half of the year has for the most par...

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3Q25 IB: RPO numbers increasingly reported across the board and still climbing

December 12, 2025
Philbert Shih

The RPO metric has quickly become a standard metric being disclosed from infrastructure operators. ...

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3Q25 IB: Demand versus supply imbalance ongoing and impacting growth rates

December 12, 2025
Philbert Shih

Demand continues to exceed supply across the ecosystem. ...

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3Q25 IB: CapEx outlays continue to rise amid accelerating growth, strong demand profile

December 12, 2025
Philbert Shih

CapEx investments were on the rise again even as things picked up pace in the preceding quarter. ...

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