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Largest AI data center developers in 2026
161 developers ranked by the megawatts disclosed at their named sites in the Capital Atlas, with the operating-or-building share shown apart from announcements.
Developers
161
Disclosed capacity
131,802 MW
Operating or building
36,191 MW
Tracked profiles
65
The Capital Atlas records named data center sites with the capital and megawatt figures their developers or their financiers have disclosed. This page sums those figures per developer and ranks the result.
Disclosed capacity is a floor, not a portfolio total: a developer that has not stated a megawatt figure for a site gets nothing for it. The status split comes from the status recorded for each site.
The ranking
| # | Developer | Category | Named sites | Disclosed capacityall named sites | Operating or buildingMW at sites operating, under construction or expanding | Announced or proposedMW at sites not yet building | Disclosed site capital | States |
|---|---|---|---|---|---|---|---|---|
| 1 | Valar Atomics | Developer named at a site | 1 | 9,600 MW | 9,600 MW | UT | ||
| 2 | O'Leary Digital (Kevin O'Leary) | Developer named at a site | 1 | 9,000 MW | 9,000 MW | UT | ||
| 3 | Tract | REIT and developer | 6 | 7,100 MW | 5,600 MW | $44.0B | AZ, IL, NC, TX, UT, VA | |
| 4 | Meta Platforms | Hyperscaler | 12 | 7,000 MW | 7,000 MW | $83.5B | AL, AZ, Alberta, GA, ID, IN, LA, OH, TX, UT, WY | |
| 5 | OpenAI (Stargate) | Frontier AI lab | 8 | 5,400 MW | 1,200 MW | 4,200 MW | $27.5B | GA, MI, NM, OH, TX |
| 6 | Crusoe Energy | NeoCloud and GPU cloud | 4 | 4,900 MW | 1,200 MW | 3,700 MW | $15.0B | TX, WY |
| 7 | SB Energy | REIT and developer | 4 | 4,300 MW | 50 MW | 4,250 MW | $999M | OH, TX |
| 8 | Alphabet / Google | Hyperscaler | 24 | 4,000 MW | 300 MW | 3,700 MW | $123.9B | AR, GA, IA, IN, KS, MI, MN, NV, OH, OK, SC, TX, VA, WV, WY |
| 9 | The Carlyle Group | Private equity and infrastructure | 2 | 3,000 MW | 3,000 MW | $2.0B | AZ, TX | |
| 10 | IREN | NeoCloud and GPU cloud | 2 | 2,750 MW | 2,750 MW | TX | ||
| 11 | Starwood Digital Ventures | Developer named at a site | 2 | 2,528 MW | 2,528 MW | $12.0B | NE, WV | |
| 12 | QTS Realty Trust (Blackstone) | REIT and developer | 6 | 2,374 MW | 304 MW | 70 MW | $30.7B | GA, NJ, OR, UT, VA |
| 13 | Vantage Data Centers | REIT and developer | 9 | 2,365 MW | 1,071 MW | 1,294 MW | $56.1B | AZ, CA, CO, OH, VA, WA, WI, WY |
| 14 | Brookfield (BAM / Brookfield Infrastructure Partners) | Private equity and infrastructure | 2 | 2,300 MW | 2,300 MW | $110.0B | KY, MS | |
| 15 | Aligned Data Centers | REIT and developer | 2 | 2,060 MW | 2,060 MW | PA, VA | ||
| 16 | Microsoft (Azure) | Hyperscaler | 15 | 2,000 MW | 2,000 MW | $12.6B | AZ, GA, OH, TX, VA, WA, WI, WY | |
| 17 | MARA Holdings | Developer named at a site | 1 | 2,000 MW | 2,000 MW | TX | ||
| 18 | Poolside | NeoCloud and GPU cloud | 1 | 2,000 MW | TX | |||
| 19 | Rubix Data Centers (Submer Group) | Developer named at a site | 1 | 2,000 MW | 2,000 MW | KY | ||
| 20 | xAI (now operating under SpaceX / "SpaceXAI") | Frontier AI lab | 5 | 1,892 MW | 1,892 MW | $71.6B | MS, TN | |
| 21 | DigitalBridge | Private equity and infrastructure | 5 | 1,880 MW | 1,880 MW | $43.0B | NV, OH, TX, VA, WI | |
| 22 | PowerHouse Hillwood Holding | Developer named at a site | 1 | 1,800 MW | 1,800 MW | $20.0B | IL | |
| 23 | Fluidstack | NeoCloud and GPU cloud | 3 | 1,668 MW | 1,500 MW | 168 MW | $4.0B | OK, TX |
| 24 | T5 Data Centers | Developer named at a site | 1 | 1,550 MW | 1,550 MW | $18.0B | IL | |
| 25 | Applied Digital | NeoCloud and GPU cloud | 5 | 1,540 MW | 600 MW | 940 MW | $22.8B | AL, LA, ND |
| 26 | Nebius Group | NeoCloud and GPU cloud | 4 | 1,500 MW | 1,500 MW | MO, NJ, PA | ||
| 27 | Fermi Inc. (Fermi America) | REIT and developer | 1 | 1,500 MW | 1,500 MW | $1.5B | TX | |
| 28 | Not disclosed | Developer named at a site | 1 | 1,500 MW | 1,500 MW | $1.5B | AL | |
| 29 | Cipher Digital Inc. | NeoCloud and GPU cloud | 3 | 1,368 MW | 468 MW | 900 MW | $2.0B | TX |
| 30 | Carlisle Development Partners | Developer named at a site | 1 | 1,350 MW | 1,350 MW | PA | ||
| 31 | Keel Infrastructure | Developer named at a site | 1 | 1,300 MW | 1,300 MW | PA | ||
| 32 | STACK Infrastructure | REIT and developer | 5 | 1,200 MW | 1,200 MW | $100.9B | CA, VA | |
| 33 | Oracle | Hyperscaler | 2 | 1,200 MW | 1,200 MW | $16.3B | MI, TX | |
| 34 | Newmark | Market intelligence | 2 | 1,200 MW | 1,200 MW | $9.4B | TX | |
| 35 | Bell Canada (BCE) | Developer named at a site | 1 | 1,200 MW | 1,200 MW | Saskatchewan | ||
| 36 | BW Velora | Developer named at a site | 1 | 1,200 MW | 1,200 MW | Alberta | ||
| 37 | EdgeCore Digital Infrastructure | Developer named at a site | 1 | 1,100 MW | 1,100 MW | VA | ||
| 38 | CyrusOne | REIT and developer | 7 | 1,070 MW | 380 MW | 690 MW | $5.7B | IL, NC, TX, UT |
| 39 | Blackstone | Private equity and infrastructure | 5 | 1,000 MW | 500 MW | 500 MW | $41.7B | IL, OH, VA, WI |
| 40 | Sesterce | NeoCloud and GPU cloud | 3 | 1,000 MW | 1,000 MW | France, NY | ||
| 41 | Eagle Rock Partners | Developer named at a site | 2 | 1,000 MW | 1,000 MW | $12.0B | MS, SC | |
| 42 | One Nuclear Energy | Developer named at a site | 2 | 1,000 MW | 1,000 MW | LA | ||
| 43 | Arizona Land Consulting (Anita Verma-Lallian) | Developer named at a site | 1 | 1,000 MW | 1,000 MW | AZ | ||
| 44 | Emerald Energy Technologies (Tourmaline Oil Corp.) | Developer named at a site | 1 | 1,000 MW | 1,000 MW | Alberta | ||
| 45 | Core Scientific | NeoCloud and GPU cloud | 6 | 982 MW | 982 MW | $1.2B | AL, GA, OK, TX | |
| 46 | Natelli Holdings | Developer named at a site | 1 | 900 MW | 900 MW | NC | ||
| 47 | DataBank | REIT and developer | 4 | 792 MW | 192 MW | 600 MW | $425M | GA, TX, VA |
| 48 | Bitdeer Technologies Group | NeoCloud and GPU cloud | 2 | 784 MW | 784 MW | OH, TX | ||
| 49 | TeraWulf | NeoCloud and GPU cloud | 3 | 761 MW | 360 MW | 401 MW | $3.2B | KY, MD, NY |
| 50 | New Era Energy & Digital | Developer named at a site | 1 | 757 MW | 757 MW | TX | ||
| 51 | Nscale | NeoCloud and GPU cloud | 2 | 700 MW | 700 MW | TX, WV | ||
| 52 | Cree Ative Datacenter Corp GP (for Mihta Askiy LP) | Developer named at a site | 1 | 650 MW | 650 MW | Alberta | ||
| 53 | Iron Mountain | REIT and developer | 3 | 628 MW | 200 MW | 428 MW | $1.0B | VA |
| 54 | Rhea Data (subsidiary of Arevia Power) | Developer named at a site | 1 | 600 MW | 600 MW | ID | ||
| 55 | Geronimo Power | Developer named at a site | 1 | 540 MW | 540 MW | ND | ||
| 56 | Azio AI Holdings, Inc. | Developer named at a site | 1 | 500 MW | 500 MW | TX | ||
| 57 | Anthropic | Frontier AI lab | 5 | 490 MW | 490 MW | $11.0B | IN, NY, TX | |
| 58 | Soluna Holdings | Developer named at a site | 2 | 466 MW | 166 MW | 300 MW | TX | |
| 59 | Teton Digital | Developer named at a site | 1 | 466 MW | 466 MW | Alberta | ||
| 60 | Terra Nexus Land Fund I, LLC | Developer named at a site | 1 | 460 MW | 460 MW | $1.2B | NC | |
| 61 | Macquarie Asset Management | Private equity and infrastructure | 1 | 400 MW | 400 MW | $900M | ND | |
| 62 | NCCS | Developer named at a site | 1 | 400 MW | 400 MW | NY | ||
| 63 | PowerPlay AI | Developer named at a site | 1 | 400 MW | 400 MW | TX | ||
| 64 | Red Jar Energy Partners | Developer named at a site | 1 | 400 MW | 400 MW | Ontario | ||
| 65 | Beacon Data Centers (Beacon AI) | Developer named at a site | 1 | 390 MW | 390 MW | New Brunswick | ||
| 66 | KKR | Private equity and infrastructure | 3 | 380 MW | 380 MW | $5.2B | TX, UT | |
| 67 | Hut 8 Corp. | NeoCloud and GPU cloud | 1 | 352 MW | 352 MW | TX | ||
| 68 | Prologis | Developer named at a site | 2 | 349 MW | 250 MW | 99 MW | CA, OH | |
| 69 | Hyperscale Data | Developer named at a site | 1 | 340 MW | 340 MW | $70M | MI | |
| 70 | Galaxy Digital Inc. | NeoCloud and GPU cloud | 2 | 334 MW | 260 MW | 74 MW | TX | |
| 71 | CoreWeave | NeoCloud and GPU cloud | 4 | 326 MW | 250 MW | 76 MW | $3.4B | GA, NJ, TX, VA |
| 72 | HIVE Digital Technologies (BUZZ High Performance Computing) | Developer named at a site | 1 | 320 MW | 320 MW | Ontario | ||
| 73 | Panattoni Development Co. | Developer named at a site | 1 | 320 MW | 320 MW | OH | ||
| 74 | Amazon (AWS) | Hyperscaler | 18 | 315 MW | 240 MW | 75 MW | $115.7B | AZ, IN, MS, NC, OH, PA, TX, VA |
| 75 | Corscale | Developer named at a site | 1 | 312 MW | 312 MW | $2.9B | OH | |
| 76 | CleanSpark | Developer named at a site | 2 | 300 MW | 300 MW | TX | ||
| 77 | Rowan Digital Infrastructure | REIT and developer | 1 | 300 MW | 300 MW | $3.0B | TX | |
| 78 | Blockfusion USA, Inc. | Developer named at a site | 1 | 300 MW | 300 MW | $920M | NY | |
| 79 | PowerHouse Data Centers | Developer named at a site | 1 | 300 MW | 300 MW | TX | ||
| 80 | Prime Data Centers | REIT and developer | 5 | 284 MW | 18 MW | 266 MW | $3.4B | AZ, CA, PA, TX |
| 81 | Volition | Developer named at a site | 1 | 250 MW | 250 MW | UT | ||
| 82 | Hut 8 | Developer named at a site | 1 | 245 MW | 245 MW | $3.2B | Louisiana | |
| 83 | Crow Holdings | Developer named at a site | 1 | 245 MW | 245 MW | TX | ||
| 84 | Merkle Standard Infrastructure (owned by Allrise Capital Inc.) | Developer named at a site | 1 | 225 MW | 225 MW | WA | ||
| 85 | Keel Infrastructure (formerly Bitfarms) | Developer named at a site | 3 | 206 MW | 110 MW | 96 MW | PA, Quebec | |
| 86 | tesla | Developer named at a site | 1 | 205 MW | 205 MW | TX | ||
| 87 | Alpha Compute Corp. | Developer named at a site | 1 | 200 MW | 200 MW | PA | ||
| 88 | Zone Frontier Inc. | Developer named at a site | 1 | 200 MW | 200 MW | TX | ||
| 89 | Riot Platforms | Developer named at a site | 1 | 191 MW | 191 MW | TX | ||
| 90 | Compass Datacenters | REIT and developer | 3 | 180 MW | 180 MW | $326M | IL, NC, TX | |
| 91 | Novva Data Centers | REIT and developer | 1 | 175 MW | 175 MW | $2.0B | UT | |
| 92 | CleanSpark, Inc. | Developer named at a site | 1 | 175 MW | 175 MW | GA | ||
| 93 | Ares Management | Private equity and infrastructure | 2 | 165 MW | 165 MW | VA | ||
| 94 | Stream Data Centers | Developer named at a site | 1 | 164 MW | 164 MW | TX | ||
| 95 | Thor Equities (Thor Acquisition WC LLC) | Developer named at a site | 1 | 150 MW | 150 MW | $1.0B | GA | |
| 96 | Coravel (ACS Group and Global Infrastructure Partners) | Developer named at a site | 1 | 140 MW | 140 MW | TX | ||
| 97 | Sabey Data Centers | REIT and developer | 3 | 139 MW | 139 MW | $4.0B | IN, VA, WA | |
| 98 | Flexential | REIT and developer | 2 | 130 MW | 22 MW | 108 MW | $205M | CO, TX |
| 99 | TerraWatt | Developer named at a site | 1 | 120 MW | 120 MW | $3.1B | MO | |
| 100 | CDPQ / La Caisse | Pension and sovereign wealth | 2 | 107 MW | 86 MW | 21 MW | $75M | Quebec |
| 101 | KIO Data Centers | Developer named at a site | 1 | 100 MW | 100 MW | $1.3B | Querétaro, Mexico | |
| 102 | Menlo Equities | Developer named at a site | 1 | 100 MW | 100 MW | CA | ||
| 103 | Digital Realty Trust | REIT and developer | 7 | 96 MW | 80 MW | 16 MW | $900M | CA, IL, KS, TX, VA |
| 104 | Alignment Engine (Volato Group, NYSE American: SOAR) | Developer named at a site | 1 | 89 MW | 89 MW | OH | ||
| 105 | WhiteFiber, Inc. | NeoCloud and GPU cloud | 2 | 84 MW | 24 MW | 60 MW | $60M | NC |
| 106 | Oaktree Capital Management | Private equity and infrastructure | 1 | 78 MW | 78 MW | $1.2B | Netherlands | |
| 107 | Yondr Group | Developer named at a site | 1 | 72 MW | 72 MW | VA | ||
| 108 | AIB Data Centers Inc. (AIB CLT1 LLC) | Developer named at a site | 1 | 65 MW | 65 MW | $800M | SC | |
| 109 | CPP Investments (CPPIB) | Pension and sovereign wealth | 1 | 54 MW | 54 MW | Ontario | ||
| 110 | Vultr | NeoCloud and GPU cloud | 1 | 50 MW | 50 MW | $1.0B | OH | |
| 111 | Leola Data Center | Developer named at a site | 1 | 50 MW | 50 MW | SD | ||
| 112 | Raeden | Developer named at a site | 1 | 50 MW | 50 MW | CO | ||
| 113 | Host Digital Inc. | Developer named at a site | 1 | 43 MW | 43 MW | OK | ||
| 114 | Colovore | Developer named at a site | 3 | 40 MW | 40 MW | $460M | NV, TX | |
| 115 | Digi Power X | Developer named at a site | 1 | 40 MW | 40 MW | AL | ||
| 116 | Monolith | Developer named at a site | 1 | 35 MW | 35 MW | NE | ||
| 117 | Stonepeak | Private equity and infrastructure | 2 | 33 MW | 18 MW | 15 MW | $250M | CO, Ontario |
| 118 | Lambda (Lambda Labs) | NeoCloud and GPU cloud | 2 | 24 MW | 24 MW | MO, OK | ||
| 119 | Armada Nowlit Energy Ltd. | Developer named at a site | 1 | 20 MW | 20 MW | Alberta | ||
| 120 | Undisclosed (site owned by a self-storage facility owner) | Developer named at a site | 1 | 18 MW | 18 MW | GA | ||
| 121 | Oppidan Investment Company | Developer named at a site | 1 | 14 MW | 14 MW | $80M | TX | |
| 122 | DataNovaX | Developer named at a site | 1 | 12 MW | 12 MW | $1.0B | TX | |
| 123 | Copenhagen Infrastructure Partners | Private equity and infrastructure | 1 | 12 MW | 12 MW | Denmark | ||
| 124 | FingerMotion, Inc. | Developer named at a site | 1 | 10 MW | 10 MW | Alberta | ||
| 125 | Energy Vault | Developer named at a site | 1 | 8 MW | 8 MW | TX | ||
| 126 | Cerebras Systems | NeoCloud and GPU cloud | 6 | CA, MN, OK, Quebec, TX | ||||
| 127 | Voltage Park | NeoCloud and GPU cloud | 6 | TX, UT, VA, WA | ||||
| 128 | Equinix | REIT and developer | 3 | $836M | TX, WA | |||
| 129 | Amazon (AWS) | Developer named at a site | 2 | $28.0B | LA, MO | |||
| 130 | QTS Data Centers | Developer named at a site | 2 | $10.3B | TX | |||
| 131 | H5 Data Centers | REIT and developer | 2 | $49M | NM, NY | |||
| 132 | IPI Partners / Blue Owl | Private equity and infrastructure | 1 | $27.0B | LA | |||
| 133 | Kinetic Infrastructure Solutions (Alphabet subsidiary) | Developer named at a site | 1 | $17.0B | GA | |||
| 134 | Nexus Data Centers | Developer named at a site | 1 | $16.0B | TX | |||
| 135 | Wright Industrial Group (Wright family) | Developer named at a site | 1 | $11.3B | TN | |||
| 136 | Undisclosed end user (Project Lightning) | Developer named at a site | 1 | $11.0B | VA | |||
| 137 | Black Mountain | Developer named at a site | 1 | $10.0B | TX | |||
| 138 | Ontario Teachers' Pension Plan (OTPP) | Pension and sovereign wealth | 1 | $10.0B | MS | |||
| 139 | Poe Companies | Developer named at a site | 1 | $9.6B | KY | |||
| 140 | DataOne | Developer named at a site | 1 | $7.5B | IN | |||
| 141 | Serverfarm (SF ARK1 LLC) | Developer named at a site | 1 | $6.6B | AR | |||
| 142 | Beacon Data Centers | Developer named at a site | 1 | $6.0B | AL | |||
| 143 | CRG (Clayco) | REIT and developer | 1 | $6.0B | MO | |||
| 144 | Amazon Web Services | Developer named at a site | 1 | $3.0B | OH | |||
| 145 | NorthMark Strategies (Valara) | Developer named at a site | 1 | $2.8B | SC | |||
| 146 | InfraTech Capital | Developer named at a site | 1 | $2.7B | TX | |||
| 147 | Falmouth Tech | Developer named at a site | 1 | $2.0B | VA | |||
| 148 | Next Revolution Technologies LLC | Developer named at a site | 1 | $1.8B | MO | |||
| 149 | Groq | NeoCloud and GPU cloud | 1 | $1.5B | Saudi Arabia | |||
| 150 | DAMAC Digital | Developer named at a site | 1 | $1.0B | OH | |||
| 151 | KDC | Developer named at a site | 1 | $1.0B | GA | |||
| 152 | DAMAC Digital (DAMAC Group) | Developer named at a site | 1 | $860M | KS | |||
| 153 | ThisWay Global, Inc. | Developer named at a site | 1 | $700M | TX | |||
| 154 | Skybox Datacenters | Developer named at a site | 1 | $550M | TX | |||
| 155 | EdgeConneX | REIT and developer | 1 | $440M | TX | |||
| 156 | Giga Energy (Giga AFM LLC) | Developer named at a site | 1 | $384M | TX | |||
| 157 | Edged | Developer named at a site | 1 | $300M | TX | |||
| 158 | Quiet Data Centers Halifax Inc. (Project Halifax LLC) | Developer named at a site | 1 | $250M | NC | |||
| 159 | CoreSite | Developer named at a site | 1 | $200M | TX | |||
| 160 | Polmer LLC | Developer named at a site | 1 | $197M | TX | |||
| 161 | Edged Energy | Developer named at a site | 1 | $93M | AL |
Questions this page answers
Who are the largest AI data center developers in 2026?
By capacity disclosed at named sites, the five largest are Valar Atomics (9,600 MW), O'Leary Digital (Kevin O'Leary) (9,000 MW), Tract (7,100 MW), Meta Platforms (7,000 MW), OpenAI (Stargate) (5,400 MW). The figure counts every megawatt a fetched source states for a named site, whether that site is operating, under construction or only announced.
Which developers have the most capacity operating or under construction?
Counting only sites that are operating, under construction, expanding or energized, the leaders are Meta Platforms (7,000 MW), IREN (2,750 MW), Aligned Data Centers (2,060 MW), xAI (now operating under SpaceX / "SpaceXAI") (1,892 MW), Fluidstack (1,500 MW).
Why does an announced campus outrank an operating one?
The ranking is by disclosed capacity, and the largest announcements are larger than any operating campus. The two status columns separate the 36,191 MW operating or building from the 90,111 MW announced or proposed, so a reader can rank by either.
Where does the data come from?
Every row is aggregated from the SAVRN Capital Atlas, which records 400 named sites for 98 tracked capital providers and keeps a source link beside every dollar and megawatt figure. Developers named only at a site, without a tracked profile, appear without a link.
Keep going
The SAVRN reference set
Seven references, one system
Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.
Capital Atlas
Who is funding AI data centers: capital providers, named sites, financing transactions, and the blocked-and-delayed record, state by state and company by company.
Open the atlas →
Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
Open the watchlist →
Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
Open the tracker →
Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
Open the water tracker →
Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
Open the watchlist →
Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
Open the permits tracker →
SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
Open the scarcity tracker →
Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.
Check this address →