Data Center Market Update: Week of November 2, 2026

The week of 2 November 2026 combined sovereign-AI capital (Aramco’s 49% stake in HUMAIN), a new 60MW build in South Korea, a 1.2GW rezoning in Saskatchewan and a $33.1 billion campus filing in Alabama. Operator earnings from the previous week added the pricing signal: renewals at both Equinix and Digital Realty are repricing upward. Below, each item is stated with what the source says and what it leaves out.

Key takeaways

• PIF and Aramco closed the HUMAIN transaction on 1 November: Aramco holds 49%, paid with AI assets plus about $2.6 billion in cash. HUMAIN targets 3GW by 2030.
• Samsung SDS broke ground on 2 November on a 60MW Gumi AI data center, scalable to 120MW, with KRW 427.3 billion committed.
• Bell’s 1.2GW Sherwood expansion cleared rezoning on 5 November over local opposition; an environmental impact study is still required.
• Lambda announced a $33.1 billion Red Clay campus in Alabama on 4 November; the company states no megawatts, DatacenterDynamics reports 1GW.
• NTT DATA opened the 12MW JKT2A in Jakarta on 3 November; most capacity is reportedly contracted.
• Equinix booked a record $533 million annualized and Digital Realty $855 million at 100% share in Q3; Digital Realty renewals rose 11.8% on a cash basis.

Deals and projects at a glance

Date	Party	Location	Item	Stated capacity
1 Nov	PIF / Aramco / HUMAIN	Saudi Arabia	Aramco closes 49% stake	3GW target by 2030 (HUMAIN)
2 Nov	Samsung SDS	Gumi, South Korea	Groundbreaking, AI data center	60MW, up to 120MW
3 Nov	NTT DATA	Jakarta, Indonesia	JKT2A opens	12MW
4 Nov	Lambda / Cloverleaf	Lowndes County, Alabama	Campus announced, $33.1B	Not stated by Lambda; DCD reports 1GW
5 Nov	Bell Canada	R.M. of Sherwood, Saskatchewan	Rezoning of 895 acres	1.2GW

Saudi Arabia: Aramco completes its HUMAIN stake

PIF and Aramco announced on 1 November that Aramco had acquired 49% of HUMAIN, the Saudi state AI company, through a wholly owned subsidiary; PIF retains 51%. Consideration is a transfer of key AI assets plus roughly SAR 9.9 billion ($2.6 billion) in cash during 2026. The price of the stake and HUMAIN’s implied valuation were not disclosed, and the transferred assets carry no stated value.

HUMAIN’s data center target in the PIF release is 3GW of AI capacity by 2030. One outlet cites 6GW by 2034; we treat that as unverified until the company confirms it. For buyers, the structure matters more than the headline: an energy major with direct access to fuel and grid positions inside an AI infrastructure vehicle. Power economics are covered on our energy hub, and public capacity statements of this type are logged in Capacity Watch.

South Korea: Samsung SDS starts building in Gumi

Samsung SDS held the groundbreaking for its Gumi AI data center on 2 November. The facility starts at 60MW and is designed to scale to 120MW in phases, on about 46,200 square meters in Gongdan-dong, the former Samsung Electronics Campus 1 site. Samsung SDS has committed KRW 427.3 billion (about $0.32 billion) to the site.

Dates differ: reporting around the groundbreaking points to late 2028, while the January MOU with Gyeongsangbuk-do and Gumi gave March 2029 for the start of operations. Samsung SDS has not said how much capacity goes to Samsung affiliates versus external customers, or when the step from 60MW to 120MW happens. The disclosed KRW 427.3 billion is described as a site commitment, so avoid deriving a per-MW cost from it.

Canada: Bell’s 1.2GW Sherwood expansion clears rezoning

On 5 November the council of the R.M. of Sherwood, near Regina, unanimously passed final readings rezoning 895 acres from agricultural to light industrial. The expanded site is expected to occupy about 1,055 acres, and the expansion is stated at 1.2GW. Council also adopted an amendment to the April development and servicing agreement that includes plans for up to nine more data halls. One councillor recused himself because he owns land Bell is seeking to buy.

More than a dozen speakers opposed the project at the hearing, citing size, proximity to Regina, environmental impact and transparency; two First Nations have called for consultation under the Crown’s duty to consult. No further municipal approvals are needed, but a provincially mandated environmental impact study must be completed first. Bell says first data halls come online in spring 2027, names Cerebras and CoreWeave as tenants, and links the full plan to client demand. Bell would pay about $8 million a year in property tax to the municipality.

United States: Lambda files a $33.1 billion Alabama campus

Lambda announced on 4 November the Red Clay Technology Center Campus in Lowndes County, Alabama, an estimated $33.1 billion investment with construction starting in Q1 2027 and running up to five years. Lambda’s release does not give a megawatt figure. DatacenterDynamics, citing Cloverleaf’s project page, reports 1GW scalable to 1.5GW, four buildings of about 720,000 sq ft each on roughly 800 acres, and first operations in Q4 2028. Power would come from Alabama Power pending regulatory approval, and Lambda says it will fund the grid infrastructure upfront. We covered the details in a separate note.

Asia: Jakarta opens, Chennai breaks ground

NTT DATA opened JKT2A (Jakarta 2 Annex) on 3 November, a 12MW, seven-story, air-cooled building with direct fiber to JKT3 in Bekasi; reports say most capacity is already contracted. The project was announced in May 2024 for early-2026 completion, so it landed later than planned. In India, L&T’s Vyoma unit broke ground on a 52MW second facility in Chennai as part of its AI Factory campus, next to an operating 30MW site; a regional report dates the ceremony to 28 October. Our Jakarta and Chennai city pages carry the existing facilities for context.

Operators: pricing firms up

The Q3 results published the week before continue to set the tone. Equinix reported revenue of $2.571 billion and record annualized gross bookings of $533 million, up 35%. Digital Realty reported $855 million of annualized GAAP rent at 100% share, renewal leases up 11.8% cash and 17.0% GAAP, and a record $2.5 billion signed-but-not-commenced backlog. Details are in our Q3 note.

GPU rental prices

Coloprice’s tracker, last updated 2 November 2026, shows on-demand medians per GPU-hour.

GPU	Median	Range
H100 80GB	$3.83	$1.30-12.29
H200 141GB	$4.66	$2.09-13.78
B200 180GB	$6.90	$3.69-16.11
GB200 NVL72 (per GPU)	$13.25	$8.00-27.04

Medians for H100, H200 and B200 are above the 16 October readings in our last tracker snapshot ($3.49, $4.40 and $6.25). See the GPU tracker for sources per model.

What this means for buyers of capacity

Three practical points follow from the week.

1. Renewal leverage is shrinking. Both listed colocation leaders report upward renewal pricing. Compare quotes with the published Colocation Price Index and the pricing guide, which cover H2 2025 through Q2 2026 and therefore predate these contracts.
2. Announced megawatts are not delivered megawatts. Samsung SDS (late 2028 to 2029), Lambda (Q4 2028) and Bell (spring 2027 for first halls) all deliver years out, and Bell and Lambda still depend on environmental and regulatory steps. For near-term needs, the catalog of operating facilities and the wholesale pricing page are the relevant references.
3. Check what the source actually states. Lambda gave dollars, not megawatts; HUMAIN’s targets differ by outlet; Samsung SDS’s dates differ by document. Ask operators for contracted, energized capacity in writing.

To compare options in a specific market, send a requirement through our quote form.