Digital Realty Trust
DLRQ4 2024(DLR Q3 FY2024)Estimated6% AI
AI Revenue %
6%
AI Fair Value
$2.3B
AI Revenue (Q)
$85.9M
Total Revenue (Q)
$1.4B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
DLR reports total operating revenues of $1,431,214K for Q3 FY2024 (three months ended September 30, 2024). Revenue grew 5.5% Q/Q and 2.1% Y/Y. DLR raised another $806.1M in equity this quarter. Total assets grew to $45.3B. Investments in properties increased to $25.2B. The company continues massive capital deployment for development pipeline. No AI-specific revenue disclosure. DLR's revenue growth is accelerating modestly, consistent with AI-driven new lease commencements layering into the revenue base. Incrementing to 6% reflecting the cumulative effect of AI-purposed leases signed over the prior 18+ months now generating rental income. Math: $1,431,214K x 6.0% = ~$85,873K estimated AI-attributable revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Total operating revenues $1,431,214 (three months ended September 30, 2024)
10-Q for period ending September 30, 2024, Condensed Consolidated Income Statements
Issuance of common stock, net of costs 5,213,737 shares, $806,101K
10-Q for period ending September 30, 2024, Condensed Consolidated Statement of Equity
Investments in properties, net $25,230,214
10-Q for period ending September 30, 2024, Condensed Consolidated Balance Sheets
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