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AI Trends for 2026 – Power, Not Compute, Becomes Bottleneck for AI Infrastructure

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As artificial intelligence adoption accelerates, data centers are undergoing a fundamental transformation. In 2026, AI...

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As artificial intelligence adoption accelerates, data centers are undergoing a fundamental transformation. In 2026, AI infrastructure is no longer defined by scale alone; it is about power density, access to energy, geographic location, resilience, cost predictability, and regulation. Training and deploying large-scale AI models requires exponentially more compute and electricity, pushing both traditional data center design and existing power grids to their limits.Read the <a href="https://mofotech.mofo.com/topics/ai-trends-for-2026-power-not-compute-becomes-bottleneck-for-ai-infrastructure" target="_blank">full blog post</a>.

AI Trends for 2026 – Power, Not Compute, Becomes Bottleneck for AI Infrastructure

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Tabitha Saw is the Managing Partner of the Morrison Foerster's Singapore office. She represents investment managers, institutional investors, development companies, funds, and owner operators in complex high-value private equity real estate (PERE) and data center transactions. She has significant experience in the establishment of capital raising platforms for real estate investments across APAC, including logistics and data center developments, contractual co‑investment platforms, joint ventures, funds, and downstream portfolio acquisitions and disposals. Her areas of expertise include advising on hyperscale leasing and co-location arrangements, greenfield and brownfield acquisitions, and asset management and operational arrangements.Tabitha is highly regarded by clients for her excellent commercial understanding, strong technical skills, and quality of advice. She is described by clients as “exceptionally sharp”, “clear and concise,” and is commended for her “ability to dissect complex issues” and “superior negotiation skills”.<h4>Representative Experience</h4><ul><li>FLOW Digital Infrastructure on the establishment of its joint venture platform with AyalaLand Logistics Holdings Corp, to develop carrier-neutral data centers across the Philippines and the platform’s acquisition of land for the Laguna data center facility.</li><li>ESR on the development of a US$2.15 billion multi-phase data centre campus in Osaka City, within 10km of the Osaka CBD.</li><li>Yondr on its 200MW hyperscale campus development across 72.8 acres of land acquired from TPM Technopark Sdn Bhd, in Johor, Malaysia.</li><li>GDS on its site acquisition for development of the hyperscale data center located at the Nongsa Digital Park in Batam, Indonesia with targeted capacity of 28MW.</li><li>ESR on the formation of a perpetual core fund and joint venture among ESR, AXA Investment Managers - Real Assets (AXA IM), and a major sovereign wealth fund in connection with the acquisition of six logistics properties in Japan for over US$1 billion.</li><li>GDS on its land acquisition for the data center campus development at the Nusajaya Tech Park in Iskandar Puteri, Johor which is intended for a 54MW hyperscale development.</li><li>ESR on the establishment of a US$300 million programmatic co-investment platform with Ping An Real Estate, and related shareholder arrangements, for investments in logistics and distribution assets.</li><li>One of the largest global private equity funds on its development and lease of four hyperscale data centers in Osaka and Tokyo, Japan.</li><li>An Asia-focused private real estate fund on its development and lease of two build-to-suit data centers in Greater Tokyo.</li></ul>

Tabitha Saw

Managing Partner, Singapore

Theo Seltzer is a partner in the firm’s Real Estate Group. Theo’s practice focuses on the representation of U.S., Japanese, and other global institutional investors in the acquisition, financing and disposition of real estate, including cross-border equity and debt financing, fund formations, development projects, data centers, hotels, and distressed loan portfolio acquisitions.Theo has been consistently ranked as one of the leading U.S. Real Estate lawyers in Japan, including by Chambers Asia-Pacific, The Legal 500 Asia Pacific, and The Best Lawyers in Japan. Most recently, he has been named Lawyer of the Year for Real Estate Law in the 2025 edition of The Best Lawyers in Japan. Theo is ranked Band 1 for Real Estate in Japan in Chamber Asia-Pacific's 2024 edition.Chambers Asia Pacific's 2011-2020 editions named Theo a "Star Individual" for Real Estate in Japan. He is also listed in the elite Hall of Fame category for Real Estate in Japan in The Legal 500 Asia Pacific's 2024 edition.Theo’s projects include:<ul><li>Representing Blackstone in its acquisition of certain Daiwa House’s logistics centers in Japan. The transaction was awarded Real Estate Deal of the Year by Asian Legal Business (ALB) Japan Law Awards 2021. </li><li>Representing Asia Pacific Land, who led an international consortium of investors, in the acquisition of the Tokyo Shiba Park Building. As of the closing, this was considered the largest single asset transaction in Japan since the Global Financial Crisis. The transaction was awarded Asia Deal of the Year by the Global PERE (Private Equity Real Estate) Awards 2013. </li><li>Representing global funds in connection with their acquisitions of performing, sub-performing and non-performing loan pools and bonds, including acquisitions from the Lehman bankruptcy estate. </li><li>Representing a global real estate/private equity fund in their investment in connection with the ¥150 billion sale and leaseback of 184 Japan dealership outlets of Mitsubishi Fuso Truck and Bus Corporation, one of the largest sale-leaseback transactions in Japan to date. </li><li>Representing a global financial institution in the workout of their debt position in the ANA Hotel portfolio. </li></ul>