Market Beats | Bank of America Secures 20-Year Expansion at One Bryant Park; Public Storage to Acquire National Storage Affiliates for $10.5 Billion; OpenAI Courts Private Equity for $10 Billion Joint Venture; Bank of America Reaches Tentative Settlement with Epstein Victims; Meta Signs $27 Billion AI Infrastructure Deal with Nebius; Scientists Discover “Hellish” New World; Data Center Spending Surpasses Offices for First Time

—— Bank of America Secures 20-Year Expansion at One Bryant Park; Public Storage to Acquire National Storage Affiliates for $10.5 Billion; OpenAI Courts Private Equity for $10 Billion Joint Venture; Bank of America Reaches Tentative Settlement with Epstein Victims; Meta Signs $27 Billion AI Infrastructure Deal with Nebius; Scientists Discover “Hellish” New World; Data Center Spending Surpasses Offices for First Time

1. Bank of America Secures 20-Year Expansion at One Bryant Park

Bank of America Corp. has inked a 20-year triple-net lease agreement to take over nearly the entire office portion of One Bryant Park, significantly expanding its presence in the 51-story skyscraper. Under the terms of the deal, the bank assumes responsibility for property taxes, insurance, and maintenance, effectively turning its global headquarters into a consolidated corporate campus. With this new commitment, the lender will occupy 2.4 million square feet of the 2.44 million-square-foot tower, up from its previous 1.8 million-square-foot footprint.

The move follows a multi-year effort to build an integrated “Bank of America Campus” in Midtown, which includes a new flagship financial center at Two Bryant Park and additional space at the Grace Building. Since the bank already holds an ownership stake in the property through a joint venture with the Durst Organization, the lease allows for greater operational control and the ability to sublease office space to existing tenants. While retail occupants such as Verizon and Starbucks will remain, the tower’s primary function as a financial nerve center is now solidified.

Currently, as of March 2026, the deal underscores the bank’s strategy to centralize its workforce and double down on Manhattan’s role as a global economic powerhouse.

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2. Public Storage to Acquire National Storage Affiliates for $10.5 Billion

Self-storage titan Public Storage Corp. agreed on Monday to acquire National Storage Affiliates Trust (NSA) in an all-stock deal valued at approximately $10.5 billion, including debt. Under the terms of the merger, NSA shareholders will receive 0.14 shares of Public Storage stock for each share owned, implying a buyout price of $41.68 based on the March 13 closing price. Following the announcement, National Storage shares skyrocketed as much as 32% in New York trading Monday morning before settling at a 29% gain.

Since the pandemic-era boom in storage demand has cooled, operators are increasingly seeking scale to offset moderating rental and occupancy rates. The combined entity is projected to hold a pro forma equity market capitalization of $57 billion and an enterprise value of $77 billion. As Public Storage rolls out its “PS4.0” strategic plan, the addition of NSA’s 1,000+ properties will dramatically increase its exposure to high-growth markets, particularly in the Sun Belt region.

While Public Storage shares dipped 3.6% following the news, the deal is expected to be accretive to funds from operations (FFO) within the first year after its anticipated close in the third quarter of 2026.

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3. OpenAI Courts Private Equity for $10 Billion Joint Venture

OpenAI is in advanced discussions with private equity heavyweights TPG Inc. and Bain Capital to form a joint venture focused on accelerating the adoption of its AI software across the corporate sector. Sources familiar with the matter indicate the venture has a $10 billion pre-money valuation, with PE investors expected to commit roughly $4 billion. Fidji Simo, OpenAI’s CEO of Applications, confirmed on Monday that the company is building a dedicated “deployment arm” to help enterprises deeply embed artificial intelligence throughout their internal operations.

Given the immense costs of scaling next-generation models, OpenAI is pivoting toward high-value sectors like finance and healthcare to justify its recent $840 billion valuation. Since competition from rivals like Anthropic has intensified, OpenAI recently launched “Frontier,” a platform designed to simplify the management of AI agents for business workflows. With its latest $110 billion funding round still progressing, the formation of this joint venture marks a strategic shift from research-centric growth to aggressive commercial deployment.

Currently, by leveraging the vast portfolio companies controlled by TPG and Bain, OpenAI aims to establish “Frontier” as the default operating system for workplace AI throughout 2026.

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4. Bank of America Reaches Tentative Settlement with Epstein Victims

Bank of America Corp. has reached an agreement in principle to settle a proposed class-action lawsuit filed by victims of Jeffrey Epstein, according to court dockets released Monday. The suit alleged that the bank facilitated accounts used by Epstein’s associates and co-conspirators to fund his sex-trafficking operation. While the specific financial terms remain confidential and subject to approval by US District Judge Jed Rakoff, the settlement follows massive payouts by JPMorgan Chase ($290 million) and Deutsche Bank ($75 million) over similar ties to the deceased financier.

Since the agreement was reached this week, Apollo Global Management co-founder Leon Black will likely avoid a scheduled eight-hour deposition on March 26. The lawsuit had spotlighted Black’s transfer of $170 million to Epstein via Bank of America accounts—transactions the victims’ lawyers described as the “primary means” of funding the illicit venture. As the settlement moves toward final certification, Bank of America continues to deny any wrongdoing. While the bank has sought to distance itself from the scandal, this legal resolution allows the firm to mitigate further reputational damage as 2026 unfolds.

Currently, this pact represents a major milestone for the legal team that has successfully targeted Wall Street’s role in managing Epstein-related capital.

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5. Meta Signs $27 Billion AI Infrastructure Deal with Nebius

Meta Platforms Inc. has committed up to $27 billion over the next five years for AI infrastructure provided by cloud specialist Nebius Group NV. The Dutch “neocloud,” a strategic partner of Nvidia, will provide Meta with $12 billion in dedicated computing capacity starting in 2027, with an additional $15 billion earmarked for expansion capacity. The deal stands as one of Meta’s largest single contracts to date, underscoring the social media giant’s urgency to secure the hardware needed for frontier model development. Following the announcement, Nebius shares surged 15% in premarket trading, while Meta gained 2.8%.

Since Meta and its peers are projected to spend a combined $650 billion on AI infrastructure in 2026 alone, securing long-term capacity has become a critical strategic necessity. As the battle for AI supremacy against OpenAI and Google intensifies, Meta is diversifying its approach by combining in-house chip development with multi-billion dollar hardware partnerships with Nvidia and AMD. While Meta previously relied more on internal data centers, this agreement with Nebius provides the massive scalability required for the next generation of generative AI products.

Currently, this investment confirms that Meta’s primary focus throughout 2026 remains the expansion of its massive “compute moat” to power its evolving ecosystem.

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6. Scientists Discover “Hellish” New World

Astronomers have identified a potential new category of planet after analyzing L 98-59 d, a world located 35 light years from Earth. According to research published in Nature Astronomy on Monday, this planet—roughly 1.6 times the size of Earth—exhibits an unusually low density and an atmosphere thick with hydrogen sulphide and sulphur dioxide. The lead researchers from Oxford University describe a landscape dominated by a semi-molten magma ocean, drawing parallels to archaic visions of a “fire and brimstone” hell.

Since most exoplanets discovered to date are classified as either hydrogen-rich gas dwarfs or water-heavy hycean worlds, the unique composition of L 98-59 d suggests current astronomical categories may be too simplistic. As the war in Iran continues to disrupt global sulphur supplies critical for metal processing and computer chips, the discovery highlights the element’s profound role in both planetary science and industry. While the planet’s environment is hostile to Earth-like life, the presence of liquid sulphur and sulphuric acid may enable exotic chemical processes.

Currently, the James Webb Space Telescope data indicates that “pungent” worlds might be more common than previously thought, opening new frontiers in the search for alien environments in early 2026.

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7. Data Center Spending Surpasses Offices for First Time

Apple Inc. announced on Thursday that it will lower its standard App Store commission in mainland China from 30% to 25%, effective March 15. The policy shift, applying to both iOS and iPadOS, follows what the company described as “discussions with the Chinese regulator.” Given the looming threat of antitrust intervention by local authorities, the move marks a significant concession in one of Apple’s most lucrative global markets.

The iPhone maker is also trimming the rate for “mini-apps”—the lightweight programs hosted within platforms like Tencent’s WeChat—from 15% to 12%. Developers earning less than $1 million annually will also qualify for the reduced 12% rate. Since Chinese internet giants like Tencent and ByteDance have effectively challenged Apple’s ecosystem by hosting vast third-party services within their “super-apps,” this climbdown is seen as an effort to resolve long-standing disputes.

Currently, as China remains Apple’s most critical market outside the US, the fee reduction highlights a tactical pivot to maintain its competitive edge throughout 2026.

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