AI remains hot on Wall Street, driving real estate and environmental services
Two Boston-area companies are leveraging the growth of AI and data centers. BXP, an office-tower owner, is benefiting from increased real estate demand from AI companies. Clean Harbors is launching a new environmental services solution specifically for data centers, focusing on water filtration and pipe cleaning.
The rapid expansion of artificial intelligence and data centers is proving to be a significant driver for Wall Street, with its influence extending beyond traditional tech companies to sectors like real estate and environmental services.
Boston-based BXP, formerly Boston Properties, an office-tower owner, is one such beneficiary. President Doug Linde informed investors that the AI boom is creating substantial demand for real estate, particularly evidenced by a recent 320,000-square-foot lease for robotics company Boston Dynamics in Waltham, Massachusetts, underscoring the growing need for office space by AI-related firms.
Simultaneously, fellow Boston-area company Clean Harbors, an environmental services provider, is strategically entering the data center market. Co-chief executive Eric Gerstenberg announced the introduction of an "integrated data center solution," a new business line projected to generate $200 million in annual revenue by 2028. The company plans to invest $50 million over three years in specialized equipment to offer services such as water filtration and cleaning of pipes at data center sites during construction and for long-term maintenance. Clean Harbors has already secured contracts for 10 data center sites and is actively bidding on a dozen more, expressing strong confidence in its tailored services for the data center industry.