Data center operator Iron Mountain raised its full-year forecast after strong demand from companies building infrastructure for artificial intelligence applications.

Reuters reported the company now expects annual revenue between $7.83 billion and $7.93 billion, up from its earlier forecast of $7.63 billion to $7.78 billion. It also reported adjusted funds from operations of $1.43 per share, beating analyst expectations of $1.26.

The company said it has already leased 32 megawatts of data center capacity through April, reflecting massive demand for the computing power needed to train and run advanced AI systems.

For Middle Eastern investors, this matters because Gulf governments are aggressively funding hyperscale data centers, cloud campuses, and sovereign AI infrastructure as part of economic diversification strategies.

From a business standpoint, data centers are becoming one of the most critical assets in the AI economy—similar to how oil infrastructure shaped earlier growth cycles.

Looking ahead, analysts expect continued strong M&A activity and infrastructure investment across the data center sector as AI demand accelerates globally.

Source : Reuters.