American Tower’s shares rose 7.5% following better-than-expected leasing demand and record activity at CoreSite, prompting an upward revision to full-year growth outlooks.
- Raised full-year revenue growth outlook to approximately 15% for the data center business and ~4% organic tenant billings growth for the global tower portfolio.
- Record leasing activity at CoreSite driven by broad-based demand including hyperscale cloud providers and AI innovators.
- Industry trends such as 5G capacity expansion, new spectrum deployment, and emerging 6G and AI applications bolster long-term infrastructure demand.
- CoreSite positioned as a critical digital infrastructure hub, hosting 9 of the top 10 AI companies and supporting growing AI and cloud-to-cloud workloads.
- Management cites operational discipline and disciplined capital allocation as factors contributing to sustained momentum.
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