Report published September 11, 2026

Goldman Sachs Research: Business & Information Services Recap — AI Monetization, Data Centers & Debt Issuance Trends

Goldman Sachs · September 11, 2026

Goldman Sachs recaps key developments across Americas Business & Information Services following the 2026 Communacopia + Technology Conference, where presenters emphasized AI monetization, data center expansion, and cross-selling. The report also highlights an August inflection in debt issuance volumes led by a 54% jump in investment grade issuance, supporting constructive outlooks for rating agencies.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Presenting companies at the Communacopia + Technology Conference highlighted secular growth opportunities in AI monetization, data center infrastructure demand, and cross-selling across enterprise offerings.
2.Global debt issuance trends improved materially in August to down 1% y/y from down 22% in July, powered by 54% growth in investment grade issuance, supporting Buy ratings on SPGI and MCO.
3.Iron Mountain's data center expansion continues to exhibit strong demand visibility, expanding to >1.4 GW capacity with 529 MW operational (97.4% leased) and 160 MW under construction (71.2% pre-leased).

GS Business & Information Services Coverage
Price Changes as of 9/10/26
Valuation Multiples as of 9/10/26
Top Inbounds
Relevant Macro Developments
Business & Information Services News Flow
GS Business & Information Services Research This Week
Chart of the Week
Upcoming Events
Upcoming GS Conferences
CY2026 Consensus EPS Estimate Revisions YTD
NTM P/E and NTM EV/EBITDA Trends
Business & Information Services Trading and Operating Comps

Report data

Exhibit 1: IRM has 1.4 GW of capacity with 529 MW operational — as of September 10, 2026.

Metric	Estimate	Context
Global Debt Issuance Growth	-1.0%	Global issuance declined 1% y/y in August, improving from a 22% decline in July.
Investment Grade Debt Issuance Growth	54.0%	Investment grade issuance increased 54% y/y in August, driving overall issuance improvement.
US Investment Grade Issuance Forecast	2.3 USD Trillion	Raised from $2.1tn due to elevated summer activity driven by AI financing, M&A, and refinancing.
Iron Mountain Total Data Center Capacity	1.4 GW	Expanded from approximately 100 MW in 2017 to over 1.4 GW.
Iron Mountain Operational Capacity Leased	97.4%	Operational capacity of 529 MW is 97.4% leased.