Own The Stack

AI looks like software. Underneath, it is a capital stack. Land. Power. Fibre. Cooling. Permits. Grid capacity. Construction. Long-term contracts. Billions in capex.

In other words: AI needs real estate. So far, Real Estate isn't getting it. 

Data centres are the fastest-growing asset class in global property. But the economics are fundamentally different. A square metre matters less than a megawatt, and power can matter more than location. Time-to-market can be worth millions. And the tenant may be one of the largest technology companies on earth.

So who captures the value? The hyperscaler? The developer? The power company? Infrastructure funds? Pension capital? Private equity? Or the real estate investor who controls the land, power, and route to market?

This session gets under the hood of the AI infrastructure investment case for real estate people - where the returns sit, what is actually bankable, and what Nordic real estate needs to understand before the biggest infrastructure build-out in decades passes it by.