Artificial Intelligence (AI) needs a massive amount of computing power and data storage to thrive. That's powering a boom in data center demand. According to Blackstone president Jonathan Gray, major tech companies will pour $1 trillion into data centers over the next five years.

Third-party data center operators are one of the many beneficiaries of the AI boom. They're seeing high occupancy levels and rising lease rates at existing locations, and many new expansion opportunities. That's accelerating growth and driving up the value of most data center operators.

However, the market hasn't yet grasped the magnitude of the AI-powered growth ahead for global infrastructure giant Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP). Because of that, it trades at a super-cheap valuation compared to real estate investment trusts (REITs) with growing data center platforms:

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Source Fool.com