Key Points – AI demand is accelerating GDS’s growth: The company recorded a record 470 megawatts of bookings in the first half of 2026 and raised its full-year target to 1 gigawatt from 500 megawatts.
It also secured 600 megawatts of additional customer reservations, bringing total binding commitments above 2 gigawatts. – GDS’s backlog grew to 757 megawatts by midyear, representing approximately RMB1.6 billion in booked-but-not-billed adjusted EBITDA
Management expects 2027 move-ins to more than double 2026 levels, with the recent booking surge driving significant EBITDA acceleration from the second half of 2027. – The company raised 2026 capital-expenditure guidance to RMB10 billion, primarily for second-half investment, with projects expected to be funded through roughly 60% debt and 40% equity. GDS also completed RMB4.9 billion of debt financing and refinancing in the second quarter. – 3 Investments to Consider as China’s Market Heats Up GDS (NASDAQ:GDS) said artificial intelligence demand is driving its strongest sales momentum to date, prompting the Chinese data-center operator to raise its full-year 2026 bookings target to 1 gigawatt from 500 megawatts previously. Founder, Chairman and Chief Executive Officer William Huang said the company recorded 260 megawatts of new bookings in the second quarter, bringing first-half bookings to a record 470 megawatts.
Huang said all sales agreements include binding take-or-pay commitments, allowing the company to invest against secured customer demand. “AI is transforming our business,” Huang said. “Our sales momentum is the strongest we have ever seen.” The company said its agreements generally specify a delivery date of up to four quarters after a booking is made, followed by a customer ramp-up period that is typically another four quarters. GDS said this structure provides visibility into the timing of future billings, although actual move-ins may occur faster or slower than its planning assumptions. Reservations Add…