ODATA (ODATA)
Latin American data center operator. Subsidiary of Aligned Data Centers (Macquarie portfolio); facilities in Brazil, Mexico, Chile, Colombia.
- Ticker: ODATA
- Sector: dc operator
ODATA (ODATA) is a tracked supply-chain name in the data-center buildout in the dc operator sector. Data Center Index tracks ODATA's capex history, project wins, and supplier exposure across the AI infrastructure buildout, refreshed daily from SEC filings and project announcements.
ODATA data center thesis
Latin American hyperscale DC operator owned by Aligned Data Centers (Macquarie portfolio) with sites in Brazil, Mexico, Chile, and Colombia. Two AI campuses under construction: 150 MW Querétaro QR03 in Mexico and 120 MW Bogotá BG03 in Colombia, 270 MW of new build serving the LATAM cloud and AI inference market that hyperscalers can't yet self-supply at scale.
Bull case
- 270 MW under construction across Mexico and Colombia in a region with a multi-year shortage of operator-grade DCs; every megawatt commissioned in 2026 lands into demand that already has waiting lists from regional clouds and hyperscaler edge nodes.
- Aligned platform parent provides shared technology stack (Delta³ cooling, modular delivery) and Macquarie financing depth; ODATA can execute hyperscale builds on Aligned's playbook without the capital cost of standing up infrastructure independently.
- Sovereign data and Mercosur/Andean data localization rules force regional residency for government, financial, and increasingly AI workloads; ODATA is the dominant pan-LATAM operator positioned to capture that shift.
Bear case
- LATAM grid reliability and currency volatility (BRL, MXN, COP) inject unpredictable opex into multi-year leases denominated in USD; any FX or power shock compresses IRRs vs. underwriting case.
- Hyperscalers (AWS São Paulo, Azure Mexico, GCP Santiago) are accelerating their own LATAM regional build-outs; ODATA's window of being the only credible operator narrows as Microsoft, Google, AWS commission their own hyperscale campuses.
- Aligned/Macquarie portfolio dynamic means ODATA capex priorities sit inside a larger sponsor-driven optimization; capacity allocation and capital pacing aren't always aligned with maximum LATAM growth if North American demand crowds it out.
Tracked ODATA data center projects
- ODATA QR03 Querétaro AI Campus, 300 MW, El Marqués, Mexico · operational
- ODATA BG03 Bogotá AI Campus, 120 MW, Bogotá, Colombia · under construction