Ask most investors about office REITs, and you'll hear some variation on a bear case in three parts that started in 2020. Remote work emptied buildings, then rental income cratered, and then valuations collapsed.
Ask about artificial intelligence in real estate, and the answer is data center REITs. Equinix (NASDAQ: EQIX) is up about 33% this year. Digital Realty Trust (NYSE: DLR) has gained 16%.