Wall Street pitches data centers as real estate bet as risks mount

Blackstone's Digital Infrastructure Trust, a REIT listed on the NYSE in May, has fallen roughly 16% since its debut, with shares closing under $17 on Thursday. Blue Owl is reportedly considering a public REIT worth as much as $6.5 billion, while a national Gallup poll found 70% of Americans oppose a data center in their area. New York and Texas have imposed moratoriums on new approvals.