that's top of mind for everyone - our tracked data center backlog reached 228 gigawatts, roughly 12 years at 2025 build rates, up from 11 last quarter. we see 32 GW under construction in the US, about 70% AI-related. the megaproject backlog we track is $3.3 trillion across 866-plus projects, up 31% year over year. Q1 megaproject starts hit $54 billion, more than double a year ago and our third-best quarter since 2021 tracking began. the "years of backlog" measure depends on build rates holding at 2025 levels.
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I'll tell you, that backlog number tracks. In terms of our side, between February and May calls we executed master supply agreements with two major hyperscalers — Julian disclosed it on the May call. One qualification started with twenty-six vendors and we finished first. If I can brag, that's the only brag that matters. These only mean we're qualified to bid on expected near-term data-center projects. The initial order is an expectation for Q3, not booked. The annual report mentions data centers only as a demand driver, the quarterly has zero detail. I wouldn't read too much into the timing.