AI is pulling enormous demand for data and power into the present, while the Federal Reserve keeps pressing on interest rates and voices like Bill Ackman question whether old playbooks still apply. If money keeps chasing compute capacity even as borrowing costs stay high, some stocks may carry more risk or resilience than headlines suggest. This article walks through three companies from our AI Power & Data-Center Landlords screener that the recent policy debate may favor, and explains why their exposure to this theme matters for your portfolio decisions.
The three stocks discussed below are just a starting sample, and the full screen surfaced 10 more companies with equally compelling narratives that are not covered in this article. To see the broader field and analyze which utilities, power producers, and data center landlords best match your own conviction, head straight into the AI Power & Data-Center Landlords screener .
Magnora (OB:MGN)
Overview:Magnora is a Norway based developer of renewable power and data center projects that aims to supply long term electricity needs.
Operations:Magnora currently generates NOK 49.5 million from developing renewable energy projects, with earnings tied to progressing and monetising this project pipeline.
Market Cap:NOK 1.6 billion
Magnora matters for this AI power theme because it is not just adding clean megawatts; it is shaping where and how future data centers plug into the grid.
"Acceleration of Nordic data center development, supported by over 1,000 megawatts of Swedish leads and 500 megawatts of Norwegian leads, positions Magnora to add new project sales and potential recurring revenue streams that can support revenue growth and earnings."
What happens to Magnora's future margins if one key assumption about long term AI driven demand for Nordic power quietly shifts?
That hinge point on long term AI demand is exactly where the full narrative for Magnora pulls together Magnora's pipeline, risk levers and what could accelerate or stall future returns.
MERLIN Properties SOCIMI (BME:MRL)
Overview:MERLIN Properties SOCIMI is a large Iberian landlord owning offices, shopping centers, logistics facilities and data centers that can support growing AI compute capacity.
Operations:MERLIN Properties SOCIMI generates about €295 million from office buildings, €132 million from shopping centers, €83 million from logistics assets and €71 million from data centers, with smaller contributions from corporate and other activities.
Market Cap:€7.5b
MERLIN Properties SOCIMI provides access to a sizeable European real estate platform with direct data center income alongside traditional offices, malls and sheds. Its current valuation reflects a P/E that sits below many REIT peers, while demand for Iberian IT capacity remains intense. A key consideration is how any changes in the financing environment could affect large, power-intensive projects.
That financing question is exactly where the analysis report for MERLIN Properties SOCIMI can help you see how MERLIN Properties SOCIMI's income mix and debt profile could react if AI capex keeps accelerating
NTT DC REIT (SGX:NTDU)
Overview:NTT DC REIT owns a global portfolio of hyperscaler ready data centers that support AI compute and broader digital infrastructure demand.
Operations:NTT DC REIT generates about US$155 million from commercial data center leasing, mainly in the U.S., Austria and Singapore.
Market Cap:US$946 million
NTT DC REIT provides exposure to the physical infrastructure and power requirements behind AI, with US$1.7 billion of Tier III equivalent facilities and an IT load near 91 megawatts across key hubs such as Northern Virginia and Singapore. The potential upside sits alongside a single pressure point that could significantly change how much of that AI-related rent reaches investors.
That pressure point is exactly where the 4 key rewards and 2 important warning signs (2 are major!) shows how NTT DC REIT's AI leasing potential compares with its funding and payout trade offs.
Seeking Fresh Alternatives Before The Crowd
Fresh ideas tend to move first. By the time a breakout stock appears in every headline, the easier entry points may have already passed. Focus on new themes while they are still under the radar and consider them before they attract widespread attention.
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Identify potential income-oriented opportunities by reviewing high-yield candidates inside the 162 dividend fortresses before payouts and price moves are fully reflected in the market.
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Explore companies positioned for structural demand shifts by scanning power, grid and electrification players through the 39 power grid technology and infrastructure stocks while capital flows are still developing.
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Look for businesses that may support AI and automation by sifting through infrastructure-focused opportunities using the 87 AI infrastructure stocks before they become widely followed.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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