Crown Castle (CCI) RBC Capital Markets 2026 Global Communications and Infrastructure Conference summary

AI and mobile data demand

• AI is expected to significantly increase mobile data demand, especially through Physical AI applications and inference workloads, shifting the downlink-uplink traffic ratio from 80/20 to potentially 60/40.

• Growth in mobile data will require more power and larger antennas, leading to increased space usage on towers over time.

• Urban and suburban areas are likely to benefit first from these trends, but opportunities exist across all geographies.

Edge computing and tower infrastructure

• Towers are positioned to support sub-one megawatt edge compute deployments, offering space and connectivity for tenants who manage their own power and compute needs.

• Early-stage trials are underway for edge compute at tower sites, with applications in inference, quantum, and cybersecurity.

• Fiber connectivity to towers is robust, supporting high bandwidth and future AI RAN and edge computing requirements.

Spectrum, leasing, and industry outlook

• 2026 is expected to be a trough year for site rental leasing, with improvement anticipated in subsequent years.

• Recent and upcoming spectrum acquisitions, including low-band and mid-band, are positive drivers for tower infrastructure, requiring larger antennas and potentially more densification.

• MLAs are structured to benefit from new tenants and amendments, with terms varying by client.