Data Center Market Update: Week of October 5, 2026

Capacity announcements this week skewed to Asia and to financing: CoreWeave committed to 240MW in Navi Mumbai, Digital Realty began a 24MW building in Osaka, and Virtus raised £2.45 billion of debt for UK and European growth. In Lombardy, meanwhile, a council turned down an 80MW project outright, a reminder that consent risk is now priced alongside power.

Key takeaways

• CoreWeave announced 240MW across three 80MW buildings at AdaniConneX’s Taloja campus (Navi Mumbai) on 6 October; first capacity is not expected before mid-2028.
• Digital Realty and Mitsubishi’s joint venture started the 24MW KIX15 building in Osaka for Q4 2028, taking the venture’s Japan portfolio to about 220MW.
• Virtus closed a £2.45 billion (about $3.25 billion) 13-bank facility, including a £1.2 billion green capex tranche.
• Cologno Monzese’s council in Lombardy unanimously rejected an 80MW project; two other Lombardy proposals (120MW, 240MW) have been withdrawn or opposed.
• Legacy Investing and GI Partners are converting Chicago’s former Cboe headquarters to 33MW, a $40 million purchase that depends on existing ComEd power.
• Aterio’s October update separates gigawatt-scale plans from physical construction, a caution on headline pipeline numbers.

Asia-Pacific: India and Japan add AI-grade capacity

CoreWeave’s India announcement, dated 6 October 2026, covers 240MW in three 80MW buildings at the Taloja campus of AdaniConneX, the Adani Enterprises and EdgeConneX joint venture. Nvidia’s Vera Rubin platform is specified, CoreWeave is the sole tenant, and an option to double the campus to 480MW is not committed. The company has not disclosed financing, a building-by-building schedule or site-level power and water data, and first-phase capacity is not expected before mid-2028. It follows CoreWeave’s 360MW Indonesia plan announced in August, its first Asia-Pacific entry. For market context see our India data center market guide.

In Japan, Digital Realty announced on 7 October the start of construction on KIX15, a 24MW building at the KIX Campus in Ibaraki City, Osaka. It is built through MC Digital Realty, the 50/50 venture with Mitsubishi Corporation, is the campus’s fifth building, and is due to open in Q4 2028. Reports describe hybrid air and liquid cooling, seismic isolation and about 17,672 sqm of floor area. Earlier buildings include KIX12 at 20MW and KIX13 at 21MW.

Project	Operator	Capacity	Stated timing
Taloja, Navi Mumbai	CoreWeave / AdaniConneX	240MW (option to 480MW)	First capacity mid-2028 or later
KIX15, Osaka	Digital Realty / Mitsubishi JV	24MW	Opens Q4 2028

Both projects deliver two years or more out. Buyers needing capacity before 2028 in either market are competing for existing inventory; our data center catalog lists operational facilities by country.

Financing: Virtus raises £2.45 billion

Virtus Data Centres closed a £2.45 billion debt package, reported at about $3.24–3.25 billion, from 13 banks. BNP Paribas, Crédit Agricole CIB, Société Générale and Standard Chartered coordinated. The facility includes a £1.2 billion green capex tranche and funds the 78MW Saunderton campus in Buckinghamshire, further work at LONDON19 in Slough and expansion in Germany, Italy and Spain. Virtus is majority-owned by Singapore’s STT GDC, with Macquarie Asset Management holding 40% since 2023.

The deal is consistent with the shift toward bank and structured financing for European platforms; track comparable announcements in our transactions tracker and investment hub.

Consent risk: Lombardy says no

The council of Cologno Monzese unanimously rejected an 80MW project from Officine Mak and 2C Sviluppo Immobiliare on a former industrial site, in a resolution dated 24 September. It cited water and electricity use, land footprint and technological waste as conflicting with municipal environmental goals, and gave up an expected €12 million in fees. East Gate withdrew a 120MW plan in Travagliato after about ten months, and a 240MW proposal in Magenta faces resident protests. Lombardy has adopted Regional Law No. 11/2026, Italy’s first comprehensive data center framework, aimed at sustainable development and brownfield reuse.

For developers and tenants, the lesson is that Milan-area pipeline figures include projects with unresolved local consent. Our Capacity Watch page records announced capacity as stated, not as delivered.

United States: conversions and what pipelines mean

In Chicago, Legacy Investing and GI Partners are converting the former Cboe headquarters at 400 S. LaSalle into a 33MW data center. The building was bought in fall 2025 for $40 million, after trading for $12 million a year earlier, and the key asset is an arranged ComEd power supply. Capacity is targeted for the end of 2026 or early 2027, depending on the report; building size is quoted inconsistently across outlets (300,500 or 385,000 sq ft).

Aterio’s October update, released 8 October and covering September, distinguishes plans from physical work. Amazon’s Homer City campus in Pennsylvania has 39 planned buildings with about 3.7GW allocated from a 4.5GW plant, phased 2030–2036. Fluidstack’s Harlingen, Texas campus of up to 1.5GW shows only site clearing in satellite imagery. Iowa’s Peosta proposal of 500–850MW of onsite gas generation is at concept stage with moratoria in place. Aterio warns that the plant rating and the campus allocation measure different things and should not be added.

GPU pricing

Coloprice’s tracker, last updated 28 September, shows the following on-demand medians per GPU-hour:

Model	Median	Range
H100	$3.29	$1.30–12.29
H200	$4.40	$2.09–13.78
B200	$6.25	$3.69–16.11
GB200 NVL72	$13.25	$8.00–27.04

Live data and history are on the GPU tracker.

What this means for capacity buyers

• Separate announced from deliverable. The week’s two largest Asian projects deliver in 2028 or later; contract only against dated, energized capacity.
• Check consent status line by line. Council rejections in Lombardy show that a site with land and a developer can still fail on environmental grounds.
• Prefer power-in-hand conversions for speed. Chicago’s 33MW conversion rests on an existing utility arrangement, not a new queue position; see our grid connection queues guide.
• Read financing as a delivery signal. A closed bank facility, like Virtus’s, is stronger evidence for a named campus than a pipeline headline.
• Benchmark before negotiating. Compare quotes against the Coloprice index and request pricing through the quote form.