GDS

Baron Real Estate Income Fund decreased 7.58% (Institutional Shares) in the third quarter, underperforming the MSCI US REIT Index, which decreased 6.33%. Welltower is a leading owner and operator of senior housing communities across the U.S., Canada, and the U.K., and is the largest health care REIT by market capitalization. We initiated a position in AAON, Inc., following a disappointing second quarter earnings result.

GDS's AI-driven bookings, high pre-commitment and backlog support growth visibility, but rising utility costs and debt pressure margins.

Baron Global Opportunity Fund (the Fund) gained 26.7% (Institutional Shares) during the second quarter, compared to the 14.9% gain for the MSCI ACWI Index (the Index). During the second quarter, we initiated five new positions: Alphabet, Samsung Electronics, Cerebras, DPC Holdings and Innio. We also took advantage of stock price volatility and significant inflows into the Fund to add to many existing positions including Shopify, Nu, NVIDIA, Amazon, GDS, ASML, TSMC, MercadoLibre, Tesla, ServiceTitan, and others.

Tap these five stocks - CURI, INO, GDS, NMG and CCOI - with increasing P/E ratios to try out an out-of-the-box approach.

GDS jumps 13% in a month as AI-led bookings, rising utilization and a heavily pre-committed expansion pipeline support growth.

China's tech momentum is holding firm into 2027, with TSMC, ACM Research, GDS Holdings and Kingsoft Cloud backed by strong growth drivers.

GDS Holdings' Backlog reached 757 MW in Q2, providing stronger visibility into future revenue and EBITDA as contracted capacity is delivered. Management raised 2026 EBITDA and CAPEX guidance, reflecting stronger-than-expected AI-driven demand and development activity. Our SOTP valuation remains supportive, with both the transaction-based and fair-value DayOne scenarios indicating upside ahead.

GDS Holdings (GDS) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

AI demand drives GDS to record first-half bookings, a 1-GW 2026 sales target and higher guidance as backlog builds toward a 2027 move-in surge.

GDS Holdings Limited (GDS) Q2 2026 Earnings Call Transcript