Asia Plus keeps Buy on DELTA with 342 baht target, expects Q3/2026 profit to be the year's peak

Bitdeer AI, part of Bitdeer Technologies Group, has entered a 10-year data center services agreement for A901, a 67MW AI Cloud data center campus in Malaysia. The campus becomes Bitdeer AI's third Malaysian hub alongside Cyberjaya and Johor and will be engineered for liquid-cooled, rack-scale NVIDIA GB300 NVL72 systems serving next-generation enterprise AI workloads. Delivery of A901 capacity is targeted to begin in the first quarter of 2027, with the full 67MW targeted for the second quarter of 2027. With the addition of the 67MW A901 campus, Bitdeer AI's secured AI Cloud data center capacity, meaning capacity owned or under an executed data center services agreement, totals approximately 273.5MW across facilities in Malaysia, Norway and the United States, or approximately 78% of its target of up to 350MW to be delivered by the first quarter of 2028. Bitdeer AI said its active pipeline for AI Cloud capacity is now estimated to exceed $10 billion, and Chief Financial Officer Michael G. Potter said demand for liquid-cooled, rack-scale AI capacity in Southeast Asia is running ahead of what the market can deliver.

Advanced Energy Industries guided third-quarter 2026 revenue to $640 million, plus or minus $20 million, with non-GAAP earnings of $3 per share, plus or minus 25 cents, as the company rides record demand in semiconductor and data center computing markets. In the second quarter of 2026, semiconductor revenues jumped 33% year over year to a record $278 million, and the company expects semiconductor revenues to grow nearly 50% year over year in the second half of 2026. Data Center Computing revenues rose 35.2% year over year to $191.5 million in the second quarter of 2026, and Advanced Energy expects data center revenues to increase more than 50% in 2026. In June 2026, the company announced its new ADH series DC-DC converters for next-generation 800V DC AI data center power architectures, delivering up to 8 kW peak power with 98.2% efficiency. The Zacks Consensus Estimate for third-quarter 2026 earnings stands at $3.06 per share, implying a year-over-year increase of 75.86%, while the consensus revenue estimate of $647.70 million suggests a year-over-year increase of 39.80%.

Blackstone-backed data centre operator AirTrunk plans to invest $1 billion to expand its TOK1 campus in Inzai, Japan, as demand for infrastructure to support artificial intelligence workloads grows. The investment will support the deployment of liquid-cooling technology for AI workloads at TOK1, which has more than 300 megawatts of capacity. AirTrunk CEO Robin Khuda said geopolitical factors are driving more customers to Japan as a North Asian hub. Khuda also said AI infrastructure deployment is becoming more difficult in the U.S. and is already challenging in Europe, making Asia a major beneficiary.

Digital Realty announced the commencement of construction of KIX15, a new 24 megawatt data center at its KIX Campus in Ibaraki City, Osaka Prefecture, Japan. The facility is being developed by MC Digital Realty, Digital Realty's 50/50 joint venture in Japan with Mitsubishi Corporation, and is scheduled to commence operations in the fourth quarter of 2028. KIX15 will be the fifth data center at the KIX Campus and, upon completion, will bring MCDR's Japan portfolio to 10 data centers representing approximately 220 MW of aggregate IT capacity. The expansion follows the opening earlier this year of the NRT14 Data Center in Inzai City, Chiba Prefecture, one of the first facilities in Japan to achieve the DGX-Ready Data Center certification. KIX15 is a key component of MCDR's Kansai AI Infrastructure Co-Creation Project and is designed to support hybrid air- and liquid-cooling technologies for hyperscalers, cloud service providers and companies deploying AI infrastructure.

Tutor Perini Corporation announced that its subsidiary Fisk Electric Company has been awarded an electrical services contract worth approximately $24 million for a confidential data center customer in Houston, Texas. Fisk's scope covers prefabrication and assembly of modular containment systems and related electrical infrastructure, including liquid-cooled components and piping, for a new ground-up data center. Those units will be built at Fisk's new 75,000-square-foot prefabrication and manufacturing facility in Houston, which the company says positions it to serve a fast-growing prefabrication market driven by a nationwide shortage of electricians. Electrical construction work is expected to begin in the fourth quarter of 2026, with substantial completion anticipated in the first quarter of 2027. The contract value will be reflected in Tutor Perini's backlog for the third quarter of 2026.