Moody's has released an analysis identifying key risk factors for investors and lenders as data center construction and leasing activity reaches record levels globally. The firm points to concentration risk, power procurement uncertainty, and escalating construction costs as areas requiring closer scrutiny despite strong demand fundamentals. Moody's notes that rapid capacity expansion in some markets could outpace absorption, creating valuation pressure for some assets. The report is likely to influence underwriting standards and credit assessments for data center financing across both public and private markets.