Build vs lease
Build vs Lease AI Capacity Calculator
Use this calculator to compare an owned build against a leased AI capacity path across NPV, time-to-power value, utilization risk, and term flexibility.
The answer is fit-based: building can win for controlled long-term load, while leasing can win when speed, phased growth, or demand uncertainty matters more than asset control.
How to use this calculator
Use before issuing a build RFP, signing a lease LOI, or deciding whether near-term GPU demand justifies permanent owned capacity.
- 01
Enter the buyer scenario
Start with the editable build vs lease inputs and replace defaults with current quotes, tariffs, engineering values, or buyer assumptions.
- 02
Review the modeled outcome
Use the modeled outcome, decision checks, and copied brief to compare the scenario against buyer constraints.
- 03
Verify the result before acting
Check the caveats, source table, and related guides before treating the output as a quote, bid, or final site decision.
Calculator inputs
Scenario defaults are editable. Replace them with current quotes, utility tariffs, tax counsel inputs, or engineering values before relying on the output.
Lease-favored
Modeled outcome
Lease is favored on this scenario because speed value and flexibility outweigh the owned-build NPV advantage.
Build capex
$224M
Build NPV
$245M
Lease NPV
$218M
Speed value
$518M
Lease advantage
$545M
Decision checks
- Build NPV: $244.65M
- Lease NPV: $218.26M
- Speed value: $518.4M
How does the build vs lease model work?
The model calculates an owned-build NPV from upfront capex, owner opex, utilization, and residual value, then compares it with leased capacity payments over the same term. It separately values the months saved by leasing when leased capacity can be energized before an owned build. The recommendation weights NPV difference, speed value, utilization risk, and term length so the buyer can see which operating model fits the scenario.
What should buyers verify before using the result?
- Lease rates can include different boundaries for power, cooling, remote hands, cross-connects, and utility pass-throughs.
- Owned-build economics depend heavily on residual value and whether the buyer can use the asset beyond the initial workload.
- Time-to-power value should be set to zero if the workload has no near-term revenue or strategic deadline.
Related guides and tools
Which sources support this build vs lease model?
| Source | Use in this tool | Link |
|---|---|---|
| TierPoint data center cost calculator | Competitive calculator pattern for build-versus-colocation decisions. | Open |
| Expedient data center build vs buy calculator | Competitive calculator pattern for build-versus-buy modeling. | Open |
| Digital Realty build vs buy report | Strategic factors in build-versus-buy decisions. | Open |
| CoreSite data center costs build or lease guide | Build-versus-colocation factors for enterprise buyers. | Open |
| CBRE North America Data Center Trends H2 2025 | Market supply, vacancy, and leasing pressure across North America. | Open |
| JLL 2026 Market Outlook for Global Data Centers | Global market outlook, cost, site selection, and power context. | Open |
| Uptime Institute Global Data Center Survey 2025 | Data center efficiency and operations benchmark context. | Open |
| U.S. EIA Electric Power Monthly | Electricity price and sales context for power cost assumptions. | Open |