"When you have the capital, when you have the land, when you know how to build things, it makes sense for us to be doing what we're doing," Uthayakumar said of the company's growing data center business."
""Whether you operate a data center or a logistics center, energy and power are something that's becoming more and more relevant because access to it is not so easy," Uthayakumar said. "So, we've built the capability.""
"Prologis, which has a portfolio of 1.3 billion square feet across more than 5,500 buildings globally, made its name with warehouses. In recent years, though, it has been growing investment in its data center business. The company announced in 2023 that it planned to spend up to $8 billion to build data centers across around 20 property sites. Bank of America analysts said spending on data center construction in the US reached a record $40 billion in June, a 28% increase compared to 2024."
Prologis leverages land, energy, capital, and building experience to enter the data center market. The company owns 1.3 billion square feet across more than 5,500 buildings globally and is increasing investment in data centers. Prologis planned to spend up to $8 billion to develop data centers across around 20 property sites. US spending on data center construction reached $40 billion in June, a 28% increase compared to 2024. Prologis has developed microgrids, secured 1.1 gigawatts of power with 300 megawatts under construction, is procuring an additional 2.2 gigawatts, and sees a 10-gigawatt opportunity over the next decade.
Read at Business Insider
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