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8:00 AM
9:00 AM
9:10 AM
9:20 AM
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The TMT Finance editorial team present deal data and pipeline for the US market. A detailed breakdown of announced and expected debt financing across all digital infrastructure asset classes.
9:30 AM
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- Where are returns holding up across telecoms, datacenters and fiber, and where are they under pressure?
- How are AI-driven demand, power constraints and execution complexity influencing capital allocation? And do new participants such as KKR, KIA, Nvidia and Vistra’s Helix Digital Infrastructure venture represent an expanding pool of capital?
- Following the T-Mobile JVs with KKR, Oak Hill, EQT and Wren House, will Tilman’s US$3bn Eaton raise for Verizon broadband expansion signify continued sponsor and carrier partnerships?
- Does AT&T’s US$5.75bn acquisition of Lumen’s mass-markets FTTH business suggest outright M&A can compete with sponsor JVs as a route to fiber expansion?
- Which market segments are presenting new and sustainable investment opportunities and competition? Specifically, what does Charter’s US$34bn acquisition of Cox and DigitalBridge’s US$1.5bn take-private acquisition of WOW! mean for the cable market?
Moderator
10:10 AM
10:25 AM
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- What structures are closing digital infrastructure deals and bridging valuation gaps?
- From minority stakes to continuation vehicles and carve-outs, where are the new preferred liquidity routes?
- With IMs circulated for the DataBank full or majority-stake sale, alongside the launch of the EdgeCore sale process, which other assets and platforms are most likely to drive transaction activity over the next 12–24 months?
- Do private markets have enough firepower?
- How are strategic and financial investors competing or partnering to execute deals?
11:05 AM
11:45 AM
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Jeremy Goldstein of Sterlington joins Meghan Baivier, CFO of Aligned Data Centers, for a behind-the-scenes look at one of the landmark digital infrastructure transactions of recent years: the structure, the negotiations, and what it means for the market.
12:05 PM
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- How is the shift to power-led development and gigawatt project financings, such as Switch’s US$8bn raise for an Atlanta campus, changing the deal landscape?
- How do power, capital and demand interact, and which will shape investment decisions the most in 2027?
- What does the full capital stack look like, from development through to long-term financing?
- Which pools of capital are becoming most active?
Moderator -
- Amid public and private market divergence, where is value created today? And what capital structures are being employed?
- How are operators responding to public market valuation discounts?
- Where are growth opportunities emerging beyond traditional tower leasing?
- Following KKR’s US$1.5bn preferred equity investment in Vertical Bridge, how are investors assessing towers relative to other digital infra assets?
- How does the US macro tower market compare with other geographies? And what lessons can be learnt?
Speakers
12:45 PM
1:45 PM
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- Where does enterprise fiber offer a more durable investment case than FTTH? And will the FirstLight Fiber sale process indicate how investor sentiment is shifting?
- From targeted carveouts to JVs, how are M&A strategies expanding metro enterprise specialization? And what can be learnt from Bluebird’s purchase of Everstream and the Ubiquity regional asset sale?
- How are contracts, service models and customer relationships changing? And what does this mean for long-term value creation?
- What are the predominant financing strategies for expansion and densification?
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- How are transactions evolving from brokered land deals to structured M&A processes?
- How are demand profiles changing?
- How are deals such as the sale of the 1547 New York state site forming part of carve-out and platform build strategies?
- Will EQT-backed Scale’s purchase of Reload trigger more energy infrastructure deals targeting powered land expertise?
- Does the launch of the QII AI infrastructure platform signal a new wave of entrants into the sector?
Moderator -
- How are banks, private credit and other institutional lenders converging or diverging in approach?
- What is the multi-year refi roadmap for US$10-20bn projects? And where’s the churn?
- Are high-yield bonds a viable extension of the datacenter capital stack, or a mispricing of risk?
- Where are the gaps between project financing and long-term takeout most acute?
- How are lenders pricing risk across power, delivery and tenant exposure, and where are terms tightening?
2:30 PM
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- With a US$7bn Edged and Blue Owl JV financing, the US$8.5bn QTS Iowa raise and US$10bn Aligned deal in market, is 2026 the year of capital markets?
- Which debt markets will provide the most scalable solution for long-term refinancing needs?
- How has the emergence of HY bonds impacted wider lending markets?
- How are rating agencies approaching AI-driven infrastructure risk?
Speakers -
- Are bolt-on acquisitions, such as Greenlight’s purchase of FastBridge Fiber, or direct platform investments, such as Oak Hill’s acquisition of Hunter Communications, proving more effective in consolidating smaller fiber operators?
- Where are the most attractive opportunities emerging across US markets?
- How are integration and operational risk being underwritten?
- How are regional platforms adapting or positioning for acquisition?
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- With all of the headlines focused on AI-driven demand, how have traditional cloud and enterprise demand trended?
- What are key differences in building AI and hyperscale data centers vs. wholesale and enterprise datacenters (unit economics, development complexity, access to capital)?
- Between colocation, public cloud and private cloud, enterprises have more options than ever on where to place their workloads. How have their infrastructure strategies evolved over the last few years?
- What latency sensitive use cases exist and are emerging that require regional, edge datacenters?
- What do the US$600m Colovore preferred equity raise and the expected sale of GI Partners’ LightEdge reveal about capital availability and exit routes?
3:15 PM
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- How are deals with a behind-the-meter component, such as Nexus’ US$16bn raise and the US$7bn Edged/Blue Owl JV financing, being structured? And what is driving decisions around single structures and separate raises?
- How is project on project risk being allocated between parties?
- How are lenders underwriting power generation risk, long term energy pricing and five 9’s reliability requirements?
- Are new power solutions accelerating timelines at the cost of technology and oversupply risk?
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- Is AI-driven connectivity between datacenters the next big investable fiber opportunity?
- Where are the new DC-DC corridors emerging?
- What financing models are best suited to dark fiber expansion?
- How are hyperscalers structuring long-term capacity agreements?
- What size of investment will be required for the new internet?
Moderator -
- Why has deployment remained fragmented? And will we see more notable deals such as the Crown Castle small cell sale and Boingo’s imminent acquisition of ExteNet’s indoor assets?
- Where is platform-scale being achieved today? And what are the hallmarks of success?
- How are telco incumbents’ strategies and enterprise demand impacting revenues?
- Which ownership models and aggregation plays are showing most promise for stabilized returns?
3:55 PM
4:00 PM
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Exclusively for leaders from the fiber industries and their counterparts in investment, banking and advisory, this focused content and networking session is designed to align shared interests, accelerate partnership discussions and unlock deal opportunities.
Guided roundtable discussion will provide a space to exchange insight on US market financing and M&A, and evolving investor profiles and priorities across FTTX, metro and backbone fiber. Following this, dedicated, informal networking will deepen connections and continue the conversation.
4:20 PM
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- As community approval becomes material to project delivery, what mitigation strategies are most effective?
- How are lease structures evolving to protect against obsolescence risk? And how are investors pricing accordingly?
- Will New York’s statewide hyperscale datacenter moratorium be the first of many? And how are permitting uncertainties and moratoria creating valuation divergence across US markets?
- As Edged taps a dedicated LCF to support power obligations, how are rising utility collateral requirements changing deal structures and raising barriers to entry?
- How is project on project risk being underwritten?
5:00 PM
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- BlackRock’s AIP has raised US$12.5bn so far, signifying the appetite, but which AI demand drivers are genuinely Investable?
- How are the most bankable AI demand drivers shaping infrastructure investment priorities through to 2027?
- How do training and inference workloads differ in their infrastructure and capital requirements?
- How is uncertainty around demand duration and utilization influencing investment prioritization?
- How are hyperscale, AI lab and chipmaker partnerships, such as Anthropic and Meta’s proposed US$10bn compute lease, defining funding allocation?
5:40 PM
8:00 AM
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A networking breakfast uniting the women and allies shaping investment and growth across digital infrastructure. This gathering offers an environment for peer-level relationship building and visibility while remaining open and inclusive to the wider leadership community.
8:15 AM
9:15 AM
9:20 AM
-
The TMT Finance editorial team present deal data and pipeline for the USA market in 2026. A detailed breakdown of announced and expected M&A activity across all digital infrastructure asset classes.
9:30 AM
-
Speakers
9:45 AM
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- Where has overbuild risk materialized, and how is it being managed?
- What differentiates successful FTTH operators in a more disciplined market? and which business models support sustainable returns?
- How are open-access and carrier coopetition dynamics changing risk allocation?
- Following Oak Hill and Carlyle’s deal for Wyyerd, what role can co-sponsor capital play in long-term platform development?
- Where is BEAD creating investable growth?
- In the wake of GFiber’s merger with Astound, when will the next scaled challenger emerge? And how much further can consolidation shape the competitive landscape?
Moderator -
Exclusively for leaders from the datacenter industry, investment, banking and advisory communities, this focused content and networking session is designed to align shared interests, accelerate partnership discussions and unlock deal opportunities.
Guided roundtable discussion will provide a space to exchange insight on USA market activity, the new capital stack and evolving investor priorities in hyperscale, colocation, AI infrastructure, and edge. Following this, dedicated, informal networking will deepen connections and continue the conversation.
10:25 AM
10:40 AM
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- Where are minority stake sales and structured exits gaining traction?
- How are continuation vehicles and YieldCo structures being used? And what are the pros and cons?
- Quinbrook’s Rowan annex fund raise highlights one route to funding development, what other strategies are investors using to balance capital recycling with long-term platform strategy?
- As active bookrunners are appointed on Switch’s US$10bn IPO, what’s the broader outlook? Do public markets have the appetite, and have leverage hurdles changed?
11:20 AM
11:40 AM
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- What are the financing table stakes in the AI infrastructure economy?
- Are credit wraps, such as Nvidia’s proposed US$250bn OpenAI guarantee, bridging the gap to investment-grade credit? And if so, at what cost?
- Are Neoclouds now being underwritten as infrastructure rather than tech platforms? And how is that refocusing lender appetite and pricing?
- How are lenders assessing risk across GPU supply, anchor customer demand and colo capacity? And how do Neocloud and traditional cloud profiles differ?
- When will we see the first fully vertically-integrated Neocloud platform?
12:20 PM
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Panel: From first check to final takeout, is fiber financing following the template or rewriting it?
- Which lender groups are most active? And how does appetite differ between first-time issuers such as Lightpath with their US$1.7bn ABS offering, and repeat issuers?
- How are lenders underwriting penetration cash flow durability and portfolio diversification?
- How are early stage LTC and traditional bank debt being structured? And what determines when a platform can move into warehouse and ABS?
- What does the pathway from initial development financing to takeout look like now?
- Following Zayo’s multi-tranche ABS, how are ABS and programmatic finance structures evolving?
1:00 PM
2:00 PM
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- What defines a ‘stabilized’ asset in today’s datacenter market?
- Which asset types can best utilize ABS and CMBS market depth?
- What are the key considerations for investors in SASB securitizations?
- What does the Realty Income/Cloud Capital JV signal about institutional appetite for stabilized datacenter assets?
- Following BXDC’s debut, can listed datacenter vehicles become a scalable permanent capital source and exit route for sponsors?
Moderator
2:40 PM
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Do you have a landmark transaction, financing innovation or strategic initiative to spotlight at TMT Finance USA 2026? This Keynote offers a platform to deliver your message to the region’s most active dealmakers.
2:55 PM
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- Which investment signal is the most trustworthy? And which signal is misleading the market?
- Where is capital being deployed today out of pressure to participate rather than genuine conviction?
- Which AI infrastructure use cases are genuinely bankable? And which are being financed on narrative rather than fundamentals?
- How will converging datacenter and energy deal structures actually break in the next 6–12 months?
- How are banks evolving their risk assessment for datacenters? And what risks are still being systematically underpriced?
- What does the rise in public market takeouts say about confidence in public equities? Is this smart capital exploiting inefficiency, or a vote of no confidence?
6:00 PM
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The annual TMT Finance Awards recognise and celebrate excellence in dealmaking and investment within Digital Infrastructure across the USA region.
Please note this is a separately ticketed event.
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