São Paulo carries 537 MW — 42% of every megawatt tracked across Latin America. Unusually for a leading market it is not tight: vacancy sits at 9.6%, down from 14.2%, where Northern Virginia runs at 0.3%.
Behind it the region thins fast: Querétaro 298.2 MW on US nearshoring, Santiago 165.8 MW growing 23% a year despite water-permitting fights, Bogotá just 44.3 MW at 18.7% vacancy.
The interesting question is why a continent with abundant hydro, serious renewable build-out and a large population supports so little compute. The answer is mostly not power. It is latency to the users who pay, submarine cable landing geography, and the currency and jurisdiction risk that hyperscale capital prices in.