BTDR announced another 8-year agreement for the Malaysian facility they are leasing, which brings them to 333.5MW secure | Hanami
BTDR announced another 8-year agreement for the Malaysian facility they are leasing, which brings them to 333.5MW secured of 350MW target to deliver by 1Q28. with ~30MWs contracted currently from customers.
In our model we get to ~$7B in AI Cloud revenue for FY28, with big step up exiting 2027, assuming stable pricing from most recent deal from last month at $22M per MW.
The Norway MWs require capex to build out, but the others are leased sites with the main capex being GPUs