The AI wave is sweeping through! This year, the global data center merger and acquisition transaction volume has surged to over 70 billion US dollars.

The global artificial intelligence (AI) craze has swept across the world, attracting billions of dollars in funding and strategic partnerships, and is now driving a wave of mergers and acquisitions in the data center industry. On Monday, SoftBank Group (SFTBY.US) became the latest company to join the fray, announcing a multi-billion-dollar acquisition agreement with digital infrastructure investment firm DigitalBridge (DBRG.US), pushing global data center M&A transactions to exceed $70 billion this year. Below are some highlights of this year's data center-related M&A transactions. Including related investments, global data center transaction volume has reached a historic high this year. Despite investors' growing concerns about AI valuation bubbles and the financing risks behind rapid data center expansion, the growth momentum remains strong. Market concerns about an AI-induced bubble led to a sell-off in global stock markets in November. Large-scale enterprises are increasingly turning to private equity markets for financing instead of bearing the expensive costs of infrastructure construction themselves, leading to a surge in debt financing and driving transaction volume to new highs. This trend has raised concerns among some investors who are beginning to question the actual value of the advanced technologies carried by data centers. Earlier this month, reports surfaced that Blue Owl Capital had backed out of a deal to support a $10 billion data center in Michigan, leading to a drop in Oracle Corporation's (ORCL.US) stock price. S&P data shows that debt issuances are expected to nearly double from $92 billion last year to $182 billion in 2025. Meta (META.US) and Alphabet Inc. Class C (GOOGL.US) have been among the most active issuers, with Meta issuing $62 billion in bonds since 2022 - nearly half of the total issuance in 2025. But many analysts remain bullish on the sector. Group ING Groep NV Sponsored ADR predicts that investment levels will continue to grow healthily in 2026 with the advancement of AI technology and increased support for digital innovation by the public and private sectors. Wim Steenbakkers, global data center and technology director at ING Groep NV Sponsored ADR, said, "AI development has a dual nature, bringing optimistic prospects such as accelerated pharmaceutical research, as well as concerns about (public) safety." "Therefore, the profit and business models of this technology remain uncertain. Questions about high investments will only be answered when uncertainties decrease in the future and the applications and advantages of the technology become clearer." S&P Global, Inc. market intelligence data shows that over 100 data center transactions have occurred in the first 11 months of this year, with a total value exceeding the total value of transactions in 2024. Most transactions occurred in the United States, followed by the Asia-Pacific region. TMT analyst Iuri Struta pointed out, "The growth rate of data center construction in Europe is expected to be lower than in other regions, but whether this will trigger a merger wave remains to be seen given the scarcity of assets." A recent report from ING Groep NV Sponsored ADR stated that the growth rate in the United States is leaving Europe far behind, predicting that data center investments in the United States could be five times that of Europe. At the same time, the Middle East is becoming an increasingly important growth driver, with wealthy Gulf countries attempting to establish themselves as the next generation of global AIHubs. Struta predicts that M&A investment activity in the data center sector will be more active in 2026. He said, "Even if the already high valuations continue to increase, I would not be surprised." "New data centers may be temporarily limited due to insufficient energy supply, making existing data centers more valuable. As large data center companies remain scarce, we may see more non-core businesses selling related assets."