Blackstone Digital Infrastructure Trust Inc. (BXDC)
Official siteREAL ESTATE • REIT - SPECIALTY • NYSE
Market Cap: $2.02B
Last updated: Sep 01, 2026 at 5:00 PM ET
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Why We Bought 3,000 Shares of BXDC: Blackstone's AI Data Center REIT Is A Speculative Bet On The Most Important Real Estate In The World
BXDC is not a proven REIT yet. It is a Blackstone-backed call option on powered, stabilized, hyperscaler-leased data centers, aka the real estate where AI actually lives. 😉 The no-demand AI bear case is getting wrecked: token usage, AI revenue, cloud backlog, and hyperscaler capex are all screaming that compute demand is real. This is not "AI vibes." Data centers need power, land, water, cooling, fiber, transformers, permits, and tenants with giant wallets. That is the chokepoint. Blackstone says BXDC is targeting 10-20+ year hyperscaler leases, 2%-3% rent escalators, and 5.75%-7%+ gross asset yields. Translation: show me the leases. 😂 The red-team catch: gross asset yield is NOT FFO. Our rough steady-state FFO estimate is about $0.61-$1.15/share, $1.05 base-case, with upside if Blackstone executes. At $21.89, BXDC looks reasonable, not screamingly cheap. Fair value depends on assets we have not seen yet, so this is tracking-position math, not certainty but $24.15 my estimate, $22.74 Morningstar. Our rule: do not chase above about $27.50 until BXDC shows real assets, tenants, debt terms, cap rates, and FFO/AFFO math. FOMO is not underwriting. 😉 Bottom line: 1% in ZEUS is a speculative seat at the table. Small now, watch the first deals like a hawk, scale only if Blackstone proves the model.
Why We Bought 3000 Shares of Blackstone Digital Infrastructure Trust Part 1 (Amazon & Microsoft Updates You Have To See To Believe!)
ZEUS just bought a 1% starter speculative position in Blackstone's data center REIT (full report coming tomorrow in the 2nd part of this report). The reason is that data centers are the ultimate utility for the accelerating growth in AI demand (170X over the last 2 years overall & 320X over the last year for OpenAI enterprise). This report shows why the "insanely unsustainable" capex spend estimates are likely going to keep rising because of sandbagging by management teams and analysts. AI is effectively trading money for time...at infinite scale...which is highly profitable...and thus leads to more AI spending. Microsoft and Amazon represent 2 value stocks who are trading at significant historical discounts AND have an obvious catalyst...30% to 40% growth in AI cloud (and 20% to 24% overall growth rates). Nvidia has 50% FCF margins that have been "unsustainably" sustained for 4 years with steady margins expected through 2028 (6 years of "unsustainable" margins😉😂🤣) Goldman Sachs now expects steadily higher AI spending through 2031 (quite an AI bubble this is! 9 years with no signs of slowing down😉) The 3 largest AI firms now have $112 billion in annualized revenue growing at 3600% (yes 37X YOY) with token growth growing 13X per year (before agents). BXDC Is a speculative (brand new) REIT poised to cash in.
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Frequently Asked Questions About BXDC
- Does BXDC pay dividends?
- Blackstone Digital Infrastructure Trust Inc. (BXDC) does not currently pay a regular dividend.
- What is BXDC's market cap?
- Blackstone Digital Infrastructure Trust Inc. (BXDC) has a market capitalization of $2.02B with a current stock price of $20.05.
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