GDS Holdings raises 2026 sales target to 1 gigawatt

GDS Holdings (NASDAQ: GDS ) held its second-quarter earnings conference call on Thursday.

Below is the complete transcript from the call.

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The full earnings call is available at Summary GDS Holdings Limited achieved 260 megawatts of new bookings in Q2 2026, raising the full-year sales target to 1 gigawatt due to strong sales momentum driven by AI demand.

The company reported a backlog increase to 757 megawatts, estimating an average adjusted EBITDA of 2.2 million RMB per megawatt, and expects the backlog to exceed 1 gigawatt by year-end.

Capital expenditures guidance was raised to 10 billion RMB for 2026, with a financing strategy of 60% debt and 40% equity at the project level.

Full-year revenue and adjusted EBITDA guidance were revised upward, reflecting strong demand and favorable market conditions.

GDS is experiencing diversified business wins across established and new markets, with significant demand from hyperscale customers and emerging AI leaders.

Management emphasized strategic customer relationships, disciplined financial management, and maintained a positive outlook on future growth and infrastructure development.

Full Transcript OPERATOR Hello ladies and gentlemen.

Thank you for standing by for GDS Holdings Limited's second quarter 2026 earnings conference call.

At this time, all participants are in listen-only mode.

After management's prepared remarks, there will be a question and answer session.

Today's conference call is being recorded.

I'll now turn the call over to your host, Ms.

Laura Chen, Head of Investor Relations for the company.

Please go ahead, Laura.

Laura Chen, Head of Investor Relations Thank you.

Hello everyone.

Welcome to the second quarter 2026 earnings conference call of GDS Holdings Limited.

The company's results were issued via Newflow Services earlier today and are posted online.

A summary presentation which we'll refer to during this conference call can be viewed and downloaded from our IR website at investing gdsservices.com.

Leading today's call is Mr.

William Huang, GDS founder, chairman and CEO, who will provide an overview of our business strategy and performance.

Mr.

Ben Newman, GDS CFO, will then review the financial and operating results.

Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S.

Private Securities Litigation Reform Act of 1995.

Forward-looking statements involve inherent risks and uncertainties.

As such, the company's results may be materially different from the views expressed today.

Further information regarding these and other risks and uncertainties is included in the company's prospectus as filed with the U.S.

SEC.

The company does not assume any obligation to update any forward-looking statements except as required under applicable law.

Please also note that GDS' earnings press release includes discussions of unaudited GAAP financial information as well as unaudited non-GAAP financial measures.

GDS' press release contains a reconciliation of the unaudited non-GAAP measures to the most directly comparable GAAP measures.