Fitch: Global Data Center and IT Sector Remains Resilient in 2026

Tashkent, Uzbekistan (UzDaily.com) — Fitch Ratings has released its forecast for the global data center and technology sector in 2026, highlighting high entry barriers, low tenant turnover, continued rental growth, rising demand from cloud services, and rapid development of artificial intelligence, primarily in major markets.

Global project-financed data centers are assessed by Fitch as neutral. Short-term construction loans and pre-leasing commitments at the design stage are secured by revenue contracts, which mitigates investor risk.

Energy and utilities in North America are also considered neutral, given the accelerated growth in electricity demand driven by data center operations.

Major U.S. REIT data centers, including Equinix and Digital Realty Trust, show improved performance. Fitch notes low leverage for these companies, expected growth in SSNOI, and significant planned capital expenditures.

The U.S. technology sector remains neutral:

Semiconductors — margin growth in free cash flow (FCF) for manufacturers exposed to AI;

Software and cloud services — active investments in computing infrastructure for AI;

IT distributors and hardware — increased demand for AI-related equipment and services drives OEMs, IT distributors, and EMS providers.

The Asia-Pacific (APAC) technology sector, particularly semiconductors, is also rated neutral by Fitch, with above-average growth and pricing power among companies strongly exposed to AI accelerators.

Fitch emphasizes that sector support is underpinned by stable demand, protection of rental income streams, and strategic investments in infrastructure, particularly related to artificial intelligence and cloud technologies.