Digital Realty Trust

DLR reports total operating revenues of $1,493,150K for Q2 FY2025 (three months ended June 30, 2025). Revenue grew 10.0% Y/Y and 6.1% Q/Q -- a notable acceleration. Rental and other services grew to $1,457,360K from $1,338,968K Y/Y (+8.8%). Fee income surged to $35,790K from $17,781K Y/Y (+101%), potentially reflecting increased development management fees from AI-related joint ventures. DLR raised $604.2M in equity and recorded $931.8M in property disposition gains. Total assets grew to $48.7B. Investments in unconsolidated entities surged to $3.6B from $2.6B at year-end 2024, suggesting major JV investments in AI-purposed data center campuses. The revenue acceleration and capital deployment pattern are consistent with AI-driven demand materializing in leasing revenues. Still no AI-specific disclosure. Incrementing to 9%. Math: $1,493,150K x 9.0% = ~$134,384K estimated AI-attributable revenue.