Artificial intelligence is set to give the global data center market a major boost, according to Jefferies, and usher in a "new era of electricity demand." "As GPUs have become a larger part of the data center ecosystem and drive AI investments, demand for power and data center space has grown at a feverish pace," the investment bank's analysts wrote in a June 18 note.
, utility firms in Europe, and the global metals and mining sector. Stocks to benefit Jefferies named several stocks it sees as presenting attractive investment opportunities. Among the "pure-play data center" names it likes are Digital Realty Trust and Equinix . The former is its top pick given its "high exposure to wholesale/hyperscale data centers, where the demand for data centers outweighs to ability to build new supply.