Contract Structure And Cash-flow VisibilityAnalyst notes the 15-year triple-net lease at the River Bend campus, backed by a Google payment backstop, materially improves cash-flow visibility and reduces counterparty risk for the asset.
Development Pipeline OptionalityAnalyst points to the company's gigawatt-scale development pipeline, coupled with renewal options and rights of first offer, as creating meaningful upside and flexibility to capture hyperscaler demand.
Strategic PartnershipsAnalyst highlights strategic partnerships with Fluidstack and Anthropic, plus a Google payment backstop, as elevating the company into a premier infrastructure provider for artificial intelligence workloads.