AI companies have announced roughly 96 gigawatts of data center capacity. About 15 gigawatts run today. Mach33 tracks the gap facility by facility: ~240 sites and 65 supply deals, each project discounted by how likely it is to get built, against a price tape that turned in early 2026 and now sits ~40% above its October 2025 low. Six buyers have signed build programs that together exceed the entire installed base operating today.