October 2026 in data centers.

October saw transaction activity surge 186% month-over-month to 40 tracked deals totaling 2,006 MW, marking a sharp acceleration in deal flow that signals renewed capital deployment across power-constrained markets. Richland Parish dominated with 5,000 MW across nine facilities, followed by Las Cruces at 4,500 MW in a single site and Ashburn at 4,296 MW across 160 properties. Texas markets—Abilene (2,950 MW), Sweetwater (2,200 MW), and the Louisiana cluster—accounted for the majority of announced capacity, reflecting continued investor focus on low-cost power and grid access in the South and Southwest. The month added 46 facilities to tracked inventory. Year-over-year, deal count is up 3,900%, a figure that reflects both normalization in deal transparency and genuine acceleration in the M&A pipeline after a compressed 2025.

This acceleration, paired with 23.9% month-over-month growth in AI-tool engagement, points to tightening power availability forcing hyperscalers into larger, more strategic commitments rather than incremental expansions. The concentration of megawatt volume in single-facility or narrow-market deployments—Las Cruces's 4,500 MW in one site is the clearest signal—suggests buyers are willing to accept geographic or operational concentration risk to secure firm power. Expect Q4 and Q1 to deliver 40+ MW quarterly deal counts as announced projects move to closing; however, unverified deal count remains high relative to signed commitments, indicating headline activity may outpace cash deployment. Watch for validation of the Richland Parish cluster and secondary Texas markets as proof of hyperscaler appetite outside Tier-1 coastal hubs.