GDS

GDS is a Shanghai-based company that develops and runs large, high-performance data centers in China, leasing space, power and cooling to cloud providers, internet companies, banks and telecom carriers. It also holds a stake in DayOne, a separate data center platform headquartered in Singapore.

It is one of the largest independent data center landlords for China's cloud and internet giants, and its management says demand is being driven mainly by AI. Because U.S. hyperscalers largely do not operate in mainland China, operators like GDS are part of the physical base for Chinese AI computing.

Charges customers, mostly large cloud and internet companies, recurring fees for data center space, power and related services under multi-year contracts.

China (Shanghai)

Data centers and physical infrastructure. The buildings, land, cooling systems, backup power and electrical equipment that physically house AI computing. Every AI model has to run somewhere — these companies build and operate the real-world facilities that make that possible.