Digital Realty signed leases representing a record $855 million in annualized rent in the third quarter, 20% above its previous quarterly record, driven by demand for artificial intelligence infrastructure. Its core funds from operations reached $2.10 per share, up 11% year over year, and the company raised its full-year forecast to $8.30-$8.35 per share. The backlog of signed leases not yet generating rent stands at $2.5 billion, equivalent to about 40% of in-place data center rental revenue. The company is building 1.5 GW of capacity for an estimated cost of $22 billion, with 63% already pre-leased, while tenant churn fell to 0.7%.
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