The artificial intelligence boom is driving an unprecedented surge in data center construction across North America. According to JLL, Texas is poised to surpass Virginia as the leading data center market, marking a pivotal inflection point in the industry. Roughly 64% of the massive 35-gigawatt construction pipeline is now rising outside traditional markets.

Data center vacancies remain extraordinarily tight at just 1%, marking the second consecutive year at historic lows. JLL executive Andy Cvengros emphasized that record-low vacancy sustained over two consecutive years pushes back firmly against bubble fears, especially considering that nearly the entire construction pipeline is already spoken for by investment-grade tenants. About 92% of current capacity under construction is pre-committed.

Against this powerful backdrop, two top-rated stocks appear perfectly positioned to benefit from accelerating data center expansion. Seattle-based Amazon.com (AMZN) has evolved from an e-commerce disruptor into a full-scale technology powerhouse deeply embedded in cloud computing, artificial intelligence, and data centers. The top five hyperscalers are planning a staggering $710 billion in capital expenditures in 2026 alone to build out the infrastructure needed to support this next wave of digital growth.