Toronto leased datacenter market sees strong demand from cloud providers despite development, operational costs
Biography
Jonathan Schroth is a research analyst on the 451 Research Datacenter Infrastructure & Services team within S&P Global Market Intelligence. His research focuses on datacenter economics and capital markets; supply/demand, utilization and growth forecasts; retail, wholesale and hyperscale activity; government incentives and regulation; and pricing dynamics. He is responsible for geographical coverage of markets in the US (Greater New York/tri-state area, Boston/New England, Chicago and the Pacific Northwest) and the entirety of Canada (where the largest markets include Toronto, Montreal and Vancouver). He is also the team expert on submarine cable infrastructure, as well as trends around the intersection of traditional colocation and cryptocurrency mining. Prior to joining S&P Global, Jonathan spent nearly a decade at Westfield Capital Management, a Boston-based equity investment firm, where he focused on portfolio construction and strategy as a member of the portfolio strategy team. He was also a consumer of technology in his role at Westfield, evaluating and helping to implement software packages that incorporated big data, artificial intelligence and machine learning. Jonathan received his bachelor of arts cum laude in Economics and English from Colby College. He is a CFA® charterholder.
Geographic Coverage
North America
Europe
Recent Research from Jonathan Schroth, CFA
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2024 Trends In Datacenter Services & Infrastructure
Artificial intelligence is likely to have a major impact on the datacenter industry, but it is not yet clear exactly how. It seems safe to say that there will be continued strong demand for leased datacenter space in both large markets and emerging smaller markets, with sustainability remaining a key element for customers. AI requirements will likely boost this demand but could also require major shifts in design and location.
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Toronto: Leased Datacenter Market
This report provides an overview of the competitive dynamics in the market, a listing of the competitors in the area, market share of the dominant providers, supply-demand and utilization trends, and discussion of planned leased datacenter builds.
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Brookfield buys Cyxtera for $775 million and plans to combine it with Evoque
Brookfield Infrastructure Partners continues its datacenter spending spree, announcing plans to acquire Cyxtera Technologies out of bankruptcy for $775 million, or just over one times the target's 2022 annual revenue. The price is discounted heavily from when Cyxtera went public on the Nasdaq in 2021.
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AI hype could drive an uptick in datacenter deals involving bitcoin miners
Bitcoin miners continue to be squeezed by low prices and increasing energy costs, while traditional leased datacenter providers (and their customers) face AI chip supply issues. We anticipate an opportunity for both groups to help address each other's problems via M&A.
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Bears, bulls, bits and bytes: Recent datacenter REIT performance in today's equity markets
Datacenter real estate investment trusts have proven resilient in past market drawdowns, but how have they fared in the recent downturn and current upswing? Digital Realty and Equinix are the only publicly-traded companies left to analyze, and their differences in approach and financial characteristics allow us to glean a distinct market view on each.
More research from Jonathan Schroth, CFA
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