because the capital to build a data center is still significant...

because the capital to build a data center is still significant if you don’t need ALL of a data center.

the bigger issue is one I’ve pointed out before - data centers are great if the big hyper-scalers (Microsoft, AWS, etc) are using you as their base (eg NXT) otherwise as others move to public cloud your occupancy continues to drop and margins suffer more.

honestly, a better result though that unexpected - will be interesting to see if they hit their full year targets or whether it will get the wobbles through the cycle.