What are the most valued startups in the data center market?

Last updated: 9 June 2026

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The data center market is being reshaped by AI demand, hyperscale cloud growth, sovereign infrastructure needs, and a global race for powered campuses.

This constantly refreshed ranking tracks the top startups and private platforms in the data center market by valuation, and we update this list every month.

The list mixes observed transaction values, public market caps, announced private rounds, and carefully estimated valuation ranges where direct disclosures are not available.

And if you want to better understand this new industry, you can download our pitch covering the data center market.

A quick summary table

Metric Value
Most valuable data center startup Switch, about $50B–$55B
Second most valuable data center startup Vantage Data Centers, about $35B–$45B
Median data center market valuation About $3.0B
Share of total data center valuation captured by the top 10 About 47%
Top data center startup valuation vs. median About 18x
Median valuation-to-capital-raised ratio About 3.6x, among startups with disclosed funding
Data center startups valued at $1B+ 76, including companies with valuation ranges touching $1B+
Market map chart showing top companies and startups in the data center market

This market map, featured in our data center market deck, highlights top companies and startups in the data center market

Top startups in the data center market ranked by valuation

Here is an updated table that ranks the top startups in the data center market based on their latest reported or estimated valuations.

If you want more detaild about their fundraising activity, you can check our list of the startups who have raised the most funding in the data center market.

# Startup Name What They Do Current Valuation ($) Valuation Confidence Level Valuation Type Evidence Status Total Funding ($) Funding Confidence Level
1 Switch Exascale data center campuses $50B–$55B Partial Confidence Active Raise Valuation Estimated $531M Full Confidence
2 Vantage Data Centers Global hyperscale data centers $35B–$45B Partial Confidence Implied Valuation from Raise Estimated $12.4B Strong Confidence
3 Aligned Data Centers Hyperscale data center campuses $40.0B Strong Confidence Acquisition Value Observed $5.0B+ Strong Confidence
4 QTS Data Centers Mega-scale data center operator $25.0B–$30.0B Partial Confidence Proxy-Based Estimate Estimated $432M Strong Confidence
5 AirTrunk APAC hyperscale data centers $16.1B Full Confidence Acquisition Value Observed $1.3B Partial Confidence
6 DayOne APAC AI-ready data centers $11.0B–$20.0B Strong Confidence IPO or Listing Range Valuation Estimated $6.4B Full Confidence
7 CyrusOne Global colocation data centers $15.0B Full Confidence Acquisition Value Observed $504M Partial Confidence
8 STACK Infrastructure Global hyperscale data centers $12.0B–$16.0B Partial Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
9 T5 Data Centers Hyperscale data center platform $10B–$13B Partial Confidence Implied Valuation from Raise Estimated $10.5B Strong Confidence
10 CloudHQ Global hyperscale data centers $8.0B–$14.0B Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
11 Crusoe AI data centers and cloud $10.0B–$12.0B Strong Confidence Announced Private Round Valuation Observed $2.5B Strong Confidence
12 ST Telemedia Global Data Centres Global colocation data centers $10.6B Full Confidence Acquisition Value Observed $1.3B Strong Confidence
13 Princeton Digital Group APAC hyperscale data centers $8.0B–$13.0B Strong Confidence Implied Valuation from Raise Implied $2.5B Strong Confidence
14 DataBank Edge colocation data centers $8.0B–$11.0B Partial Confidence Implied Valuation from Raise Implied $2.2B Strong Confidence
15 CDC Data Centres ANZ data center operator $8.6B–$9.9B Strong Confidence Revenue or ARR Multiple Estimate Estimated Not provided Low Confidence
16 Start Campus Portugal AI data campus $8B–$10B Partial Confidence Comparables-Based Estimate Estimated $9.4B Partial Confidence
17 DATA4 European hyperscale data centers $7.0B–$10.0B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
18 NEXTDC ASX-listed data center operator $8.1B Full Confidence Public Market Cap Observed $2.7B Strong Confidence
19 Compass Datacenters Hyperscale data center campuses $6.5B–$9.0B Partial Confidence Comparables-Based Estimate Estimated $178M Partial Confidence
20 EdgeCore Digital Infrastructure Hyperscale data center campuses $5.5B–$7.5B Partial Confidence Implied Valuation from Raise Implied $3.1B Full Confidence
21 Stream Data Centers US hyperscale data centers $5B–$8B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
22 Khazna Data Centers UAE hyperscale data centers $5.5B–$6.5B Strong Confidence Announced Private Round Valuation Implied Not provided Low Confidence
23 Cologix North American edge data centers $5.0B–$7.0B Partial Confidence Comparables-Based Estimate Estimated $4.7B Partial Confidence
24 Pure Data Centres Hyperscale data center developer $5.3B–$6.7B Strong Confidence Active Raise Valuation Estimated $2.7B Low Confidence
25 Yondr Group Hyperscale data center developer $5.8B Full Confidence Acquisition Value Observed Not provided Low Confidence
26 Ascenty Latin American data centers $4.5B–$7.0B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
27 Global Switch Global carrier-neutral data centers $5.0B–$6.3B Partial Confidence Revenue or ARR Multiple Estimate Estimated Not provided Low Confidence
28 Corscale Data Centers Hyperscale powered campuses $4.0B–$7.0B Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
29 EdgeConneX Edge and hyperscale data centers $4.0B–$6.5B Low Confidence Comparables-Based Estimate Estimated $62M Low Confidence
30 Flexential US hybrid colocation platform $4.4B–$5.8B Partial Confidence Revenue or ARR Multiple Estimate Estimated $1.0B Partial Confidence
31 Bridge Data Centres Pan-Asian hyperscale data centers $4.5B–$5.5B Strong Confidence Active Raise Valuation Estimated Not provided Low Confidence
32 Global Technical Realty European hyperscale data centers $4.0B–$6.0B Strong Confidence Announced Private Round Valuation Implied $2.9B Full Confidence
33 Digital Edge DC APAC data center platform $4.0B–$6.0B Strong Confidence Implied Valuation from Raise Implied $1.6B Strong Confidence
34 AdaniConneX Indian hyperscale data centers $3.5B–$6.0B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
35 VIRTUS Data Centres UK hyperscale colocation campuses $4.0B–$5.0B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
36 Colt Data Centre Services Global hyperscale data centers $3.5B–$5.5B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
37 Sabey Data Centers US colocation data centers $3.5B–$5.0B Partial Confidence Comparables-Based Estimate Estimated $420M Partial Confidence
38 atNorth Nordic AI data centers $4.0B Strong Confidence Acquisition Value Observed Not provided Low Confidence
39 EDGNEX Data Centres Global DAMAC-backed data centers $3.0B–$5.0B Partial Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
40 Chindata Group China hyperscale data centers $3.9B Strong Confidence Acquisition Value Observed $1.5B Strong Confidence
41 Ark Data Centres UK data center platform $3.5B–$4.2B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
42 Serverfarm AI-ready hyperscale campuses $3.0B–$4.5B Partial Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
43 maincubes European AI data center platform $3.0B–$4.3B Partial Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
44 Yotta Infrastructure Indian AI cloud data centers $2.8B–$4.2B Strong Confidence IPO or Listing Range Valuation Observed Not provided Low Confidence
45 Teraco Data Environments African carrier-neutral colocation $3.5B Strong Confidence Acquisition Value Observed $15M Partial Confidence
46 PowerHouse Data Centers AI/HPC campus developer $2.5B–$4.0B Partial Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
47 Edged Energy Sustainable AI-ready data centers $2.5B–$4.0B Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
48 Nxtra by Airtel Indian hyperscale data centers $3.1B Full Confidence Announced Private Round Valuation Observed $1.2B Full Confidence
49 TierPoint Enterprise colocation and cloud $2.5B–$3.5B Partial Confidence Proxy-Based Estimate Estimated $820M Strong Confidence
50 Echelon Data Centres Irish hyperscale data centers $2.6B–$3.3B Strong Confidence Announced Private Round Valuation Estimated $850M Strong Confidence
51 Scala Data Centers Latin American hyperscale platform $2.0B–$3.5B Partial Confidence Comparables-Based Estimate Estimated $500M Low Confidence
52 Novva Data Centers Western US AI data centers $2.0B–$3.2B Partial Confidence Proxy-Based Estimate Estimated $450M Strong Confidence
53 NorthC Datacenters Northwest Europe colocation platform $2.1B–$2.5B Strong Confidence Acquisition Value Estimated Not provided Low Confidence
54 Prime Data Centers Hyperscale data center developer $1.5B–$3.0B Partial Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
55 Green Mountain Nordic renewable data centers $1.8B–$2.7B Partial Confidence Revenue or ARR Multiple Estimate Estimated Not provided Low Confidence
56 EcoDataCenter Sustainable Nordic data centers $1.7B–$2.8B Partial Confidence Implied Valuation from Raise Implied $961M Partial Confidence
57 AtlasEdge Data Centres European edge data centers $1.7B–$2.4B Partial Confidence Proxy-Based Estimate Estimated $1.4B Partial Confidence
58 CtrlS Datacenters Rated-4 Indian data centers $1.5B–$2.5B Partial Confidence Revenue or ARR Multiple Estimate Estimated $100M Partial Confidence
59 BDx Data Centers APAC carrier-neutral data centers $1.8B–$2.1B Partial Confidence Comparables-Based Estimate Estimated $2.0B+ Low Confidence
60 Elea Digital Brazilian data center platform $1.3B–$1.7B Partial Confidence Acquisition Value Estimated $500M+ Partial Confidence
61 eStruxture Canadian AI-ready data centers $1.3B–$1.7B Strong Confidence Acquisition Value Observed $1.1B Partial Confidence
62 nLighten European edge data centers $1.1B–$1.7B Partial Confidence Comparables-Based Estimate Estimated $500M+ Strong Confidence
63 DCI Data Centers APAC data center platform $1.0B–$1.8B Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
64 Bulk Infrastructure Nordic sustainable data centers $1.1B–$1.6B Partial Confidence Implied Valuation from Raise Implied $700M Strong Confidence
65 CleanArc Data Centers Renewable hyperscale campuses $1.0B–$1.6B Partial Confidence Implied Valuation from Raise Estimated Not provided Low Confidence
66 Netrality Data Centers US interconnection data centers $1.0B–$1.6B Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
67 Nabiax Spanish data center operator $1.1B–$1.3B Strong Confidence Acquisition Value Estimated Not provided Low Confidence
68 AQ Compute Sustainable European data centers $900M–$1.5B Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
69 Omnia LatAm hyperscale AI campuses $900M–$1.5B Partial Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
70 Skybox Datacenters High-density hyperscale campuses $800M–$1.5B Low Confidence Proxy-Based Estimate Estimated Undisclosed Low Confidence
71 Green Datacenter Swiss data center operator $1.0B–$1.2B Partial Confidence Acquisition Value Estimated Not provided Low Confidence
72 Empyrion Digital Asian green data centers $900M–$1.2B Partial Confidence Implied Valuation from Raise Implied $828M Full Confidence
73 AIMS Data Centre Southeast Asian colocation platform $800M–$1.1B Partial Confidence Acquisition Value Estimated $438M Partial Confidence
74 H5 Data Centers US colocation data centers $700M–$1.1B Low Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
75 Digital Halo Asian data center platform $650M–$1.1B Partial Confidence Acquisition Value Implied $400M Partial Confidence
76 DC BLOX Southeastern US data centers $600M–$1.0B Partial Confidence Implied Valuation from Raise Implied $98M+ Partial Confidence
77 KIO Networks Mexico data center platform $600M–$900M Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
78 IXcellerate Russian colocation data centers $500M–$900M Low Confidence Implied Valuation from Raise Estimated $225M Partial Confidence
79 Chayora China hyperscale data campuses $500M–$900M Low Confidence Comparables-Based Estimate Estimated $253M Strong Confidence
80 Penta Infra European colocation data centers $500M–$900M Low Confidence Comparables-Based Estimate Estimated Not provided Low Confidence
81 Kao Data UK AI-ready data centers $500M–$800M Partial Confidence Comparables-Based Estimate Estimated $178M Partial Confidence
82 MedOne Israeli underground data centers $500M–$750M Partial Confidence Announced Private Round Valuation Implied $215M Strong Confidence
83 MEEZA Qatari managed IT platform $607M Full Confidence Public Market Cap Observed $193M Full Confidence
84 SpaceDC Asian hyperscale data centers $400M–$800M Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
85 Verne Global Renewable HPC data centers $575M Full Confidence Acquisition Value Observed $125M Full Confidence
86 Web Werks Data Centers Indian colocation data centers $480M–$550M Partial Confidence Acquisition Value Estimated $150M Partial Confidence
87 OneAsia Hong Kong data center operator $350M–$650M Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
88 DartPoints Regional edge colocation centers $300M–$500M Partial Confidence Implied Valuation from Raise Implied $6M Partial Confidence
89 Africa Data Centres African colocation data centers $250M–$500M Low Confidence Proxy-Based Estimate Estimated $90M Partial Confidence
90 Raxio Group African carrier-neutral data centers $250M–$450M Partial Confidence Implied Valuation from Raise Estimated $94M Strong Confidence
91 Wingu.Africa East African carrier-neutral data centers $240M–$400M Low Confidence Implied Valuation from Raise Estimated Not provided Low Confidence
92 365 Data Centers Regional edge colocation network $180M–$300M Low Confidence Revenue or ARR Multiple Estimate Estimated $16M Partial Confidence
93 PAIX Data Centres African carrier-neutral colocation $150M–$250M Partial Confidence Implied Valuation from Raise Implied $50M Strong Confidence
94 Proximity Data Centres UK edge data centers $100M–$250M Low Confidence Acquisition Value Estimated Not provided Low Confidence
95 Infinaxis Data Centre Holdings Malaysian data center developer $80M–$180M Low Confidence Proxy-Based Estimate Estimated Not provided Low Confidence
96 Evocative Colocation and cloud infrastructure $90M–$150M Partial Confidence Revenue or ARR Multiple Estimate Estimated $30M Partial Confidence
97 Digital Fortress Enterprise colocation data centers $80M–$160M Low Confidence Comparables-Based Estimate Estimated $5M Partial Confidence
98 IXAfrica Data Centre Kenyan hyperscale data center $80M–$150M Partial Confidence Implied Valuation from Raise Implied $50M Strong Confidence
99 Hyperco Nordic data center developer $40M–$120M Low Confidence Acquisition Value Estimated $1M Partial Confidence
Chart comparing the 2026 size of the data center market with other markets of similar size

This chart, featured in our data center market deck, compares the 2026 size of the data center market with other markets of similar size

Key valuation trends in the data center market

Insights

  • The top 10 data center startups represent about 47% of the full ranking’s estimated valuation, which shows how much value is concentrated in a small number of hyperscale campus platforms.
  • Switch, Vantage Data Centers, and Aligned Data Centers each sit around the $40B+ level, making the top of the data center market look more like infrastructure megacaps than classic venture-backed startups.
  • APAC-linked data center platforms are a major force in this ranking, with AirTrunk, DayOne, ST Telemedia Global Data Centres, Princeton Digital Group, Digital Edge DC, Chindata, and Nxtra by Airtel all above $3B.
  • AI infrastructure is becoming a clear valuation driver, especially for Crusoe, DayOne, Start Campus, atNorth, Yotta Infrastructure, Novva Data Centers, and several high-density campus developers.
  • Public-market benchmarks are still rare in this data center startup ranking, with NEXTDC and MEEZA standing out as the clearest listed-company valuation references.
  • Acquisition values remain one of the strongest anchors for the market, with Aligned Data Centers, AirTrunk, CyrusOne, ST Telemedia Global Data Centres, Yondr Group, atNorth, Chindata, and Teraco all shaped by transaction-backed evidence.
  • The data center market has a clear barbell structure, with many billion-dollar platforms at the top and a long tail of regional operators below $1B.
  • Capital intensity is unusually high in this market, but valuation creation can still be strong. The median valuation-to-capital-raised ratio is about 3.6x among companies with disclosed funding.
Chart showing how Equinix is capturing share in the data center market

This chart, featured in our data center market deck, shows how Equinix is capturing share in data centers

A few word about our methodology

As you can see, we built a database that ranks startups in the data center market based on their current valuation.

Estimating startup valuations is not always straightforward. Many data center companies do not publicly disclose their valuation, and the available information can vary widely depending on the company, geography, ownership structure, and stage of development.

To build this ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed data center companies, or official acquisition prices.

When a data center company is publicly listed, we use its current market capitalization as the reference valuation.

If a company was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.

When a data center startup recently raised capital but the valuation was not disclosed, we estimate the implied valuation using typical dilution levels for that stage of fundraising.

In some cases, we also estimate valuations using operating metrics such as revenue, ARR, contracted capacity, power pipeline, campus size, or customer traction, combined with valuation multiples from comparable companies in the same market.

When direct financial data is not available, we may rely on carefully selected comparable startups and other signals such as hiring growth, investor quality, campus pipeline, land bank, power availability, or product traction.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by strong operating metrics and comparable company analysis.

We also carefully evaluate the age of every data point. Recent information carries more weight, while older data is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.

Because valuation data is not always fully public, each startup in the ranking is assigned a confidence level based on the reliability, recency, and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This helps reflect the uncertainty and increases the probability that the true valuation falls within the estimated range.

This reflects how we conduct all our research, including the work behind our report covering the data center market.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

Chart showing the projected CAGR of the data center market

This chart, featured in our data center market deck, illustrates yearly funding for data center startups

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