Is VNET Group, Inc. (NASDAQ:VNET) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating VNET Group, Inc. at current levels.
China's overlooked AI data center play, trading at half the price of a US comp with the same wholesale order book.
Where VNET is headed
By the back end of 2027, VNET stops being thought of as a Chinese colocation also-ran and starts being priced as what it actually is: the second-largest independent operator of AI training capacity inside China's firewall, behind GDS. The wholesale book, which barely existed three years ago, is on track to exceed 800MW under contract by year-end 2026, with ByteDance, Alibaba Cloud and a roster of state-backed model labs filling the cabinets. Revenue mix flips. The legacy retail colocation business, the slow-growth piece that drags margins, becomes the smaller half of the company. Wholesale AI hosting, signed on 8-10 year take-or-pay terms, becomes the engine. Group EBITDA margin expands from the high 20s to the mid 30s as utilization on the new Ulanqab and Hebei campuses ramps from a standing start to 70%+.
Read the full Compass Direction on VNET
The complete destination call, the overlooked angle, milestones, and bull, base, and bear price scenarios (around $10.60).
See the full VNET analysisGet calls like this, free
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Frequently asked questions
Is VNET Group, Inc. (NASDAQ:VNET) a buy in 2026?
Yes, on balance. The Compass leans toward accumulating VNET Group, Inc. at current levels. China's overlooked AI data center play, trading at half the price of a US comp with the same wholesale order book.
What is VNET's Compass Score?
VNET Group, Inc. scores 82/100 on Alexandria's Compass, placing it in the "True North" tier. Scores blend eight factors and update weekly.
What is the price target for VNET?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the VNET page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.