Digital Realty Trust
DLRQ2 2024(DLR Q1 FY2024)Estimated5% AI
AI Revenue %
5%
AI Fair Value
$1.8B
AI Revenue (Q)
$66.6M
Total Revenue (Q)
$1.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
DLR reports total operating revenues of $1,331,143K for Q1 FY2024 (three months ended March 31, 2024). Revenue declined slightly Y/Y from $1,338,723K likely due to asset dispositions (DLR recorded $277.8M gain on property dispositions this quarter). No AI-specific revenue disclosure in the 10-Q. Capital investments continued at a high pace ($659.3M in property improvements). DLR's development pipeline was increasingly oriented toward high-density, AI-ready capacity. However, asset sales may have removed some AI-adjacent capacity from the portfolio temporarily. Incrementing to 5% reflecting the growing share of AI-purposed leases in the installed base as 2022-2023 signed leases commenced. Math: $1,331,143K x 5.0% = ~$66,557K estimated AI-attributable revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Total operating revenues $1,331,143 (three months ended March 31, 2024)
10-Q for period ending March 31, 2024, Condensed Consolidated Income Statements
Gain on disposition of properties, net $277,787
10-Q for period ending March 31, 2024, Condensed Consolidated Income Statements
Improvements to investments in real estate ($659,315)
10-Q for period ending March 31, 2024, Condensed Consolidated Statements of Cash Flows
AI Products Identified (Ring 1)
High-density data center leases for AI/ML training clustersHyperscaler colocation for GPU deploymentsHigh-power-density infrastructure for AI workloadsAI-ready development pipeline
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Enterprise colocation and interconnectionTraditional cloud hosting leasesContent delivery and network hub facilities
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix