$DLR

Digital Realty (DLR) and Equinix (EQIX) are data-center REITs benefiting from AI demand. DLR reported Q2 revenue up 29% to $1.9B, raised 2026 FFO guidance, and faces funding growth challenges. EQIX showed 11% revenue growth, 18% AFFO growth, and carries higher leverage. Both saw increased institutional investment in Q2.

EU transparency rules revealed financial details of multinationals' Irish operations. Accenture reported $93.4B in Irish earnings, 72% of its global total. News Corp and Digital Realty also disclosed Irish financials, with varying revenues and profits. Other firms like Sysco, Seagate, and Nord Anglia provided data on Irish operations. Apple and Microsoft accounted for 98% of €20.1B in Irish cash-tax payments.

Analysts updated recommendations: Flutter (FLUT.L) downgraded to neutral with target cut to $119; Constellation Brands (STZ) kept underperform with target lowered to $110; eBay (EBAY) maintained underperform with target reduced to $75; Meta (META) kept overweight with target raised to $796. Other companies also received updates.

Prologis (PLD), Digital Realty Trust (DLR), and Federal Realty (FRT) reported strong Q2 performance. PLD signed 67M sq ft of leases, DLR saw record interconnection bookings, and FRT achieved record leasing volume. All raised 2026 guidance and maintain dividend coverage.

Real estate stocks declined as the Fed raised interest rates, pushing mortgage rates to nearly 7%. The S&P 500 Real Estate Sector Index fell 2.3%, with residential REITs down 4.8%. Zillow (Z) dropped 10% after a court ruling, while Alexandria Real Estate Equities (ARE) gained 4.2%. Several joint ventures were announced, including one by Realty Income (O) in Europe and another by Digital Realty (DLR) in Türkiye.

Digital Realty (DLR) launched ServiceFabric MCP, software enabling AI agents to manage network connections across its data centers. Q2 Core FFO per share rose to $2.13 from $1.87 YoY. The company reported strong lease renewals and a $1.9B backlog. However, MCP's revenue impact is unclear, and DLR carries $18.6B in debt with rising development costs.

AXG and Digital Realty (DLR) have partnered to offer hosted private infrastructure as a service in over 30 countries. The collaboration enables GSIs and MSPs to deliver dedicated private AI, cloud, and edge infrastructure using Digital Realty's data centers and AXG's infrastructure-as-a-service model. The offering aims to simplify infrastructure deployment and management for enterprises and governments.

Digital Realty and Rönesans Infrastructure formed a joint venture to develop data centers in Türkiye. The first project, a 22 MW campus in Ankara, is set for 2028 completion. The venture aims to support Türkiye's digital economy and expand Digital Realty's regional footprint.

Emerald AI, Google, and Nvidia launched the AI Energy Management Alliance (AEMA) with 18 members. The alliance aims to make AI data centers flexible power users, supporting grid stability and faster connections. Flexible data centers could lower electricity rates and reduce grid strain, according to the Brattle Group. AEMA will advocate for policies rewarding flexible data centers, with proof-of-concept projects already underway.

Digital Realty launched a 6.4MW Nairobi Two Data Center (NBO2) in East Africa, expanding its infrastructure. The facility offers enhanced connectivity, redundancy, and global integration, meeting rising demand for cloud services and data sovereignty. The company also rebranded iColo under its global platform in Kenya and Mozambique. Local and regional leaders highlighted the facility's role in advancing East Africa's digital economy.