Data center cargo theft tops $110 million as thieves target AI hardware

Fewer thefts, bigger losses

Verisk CargoNet counted 677 incidents in the second quarter of 2026, 26% fewer than a year earlier. Yet losses from stolen cargo rose from $135.7 million to $304.6 million. Keith Lewis, the firm's vice president of operations, warns that a lower number of incidents should not be mistaken for lower risk.

Fake emails, real shipments

Many of these cases are not roadside holdups. The FBI warned in April that criminals impersonate freight companies through fake emails and links, break into carriers' systems and use the hijacked accounts on load boards, where transport jobs are posted and bid on. They accept real shipments in the company's name, change the destination and hand the goods to drivers who are in fact members of the gang. Hardware suppliers end up loading the thieves' trucks themselves.

Physical attacks also happen. In June, a car deliberately rammed the escort of a convoy carrying $13 million in hardware; the truck escaped. Weeks later, another convoy in Texas, valued at $10 million, was hit. Cornell says some drivers had not been properly vetted.

Why memory is the prize

Manufacturers are prioritizing server components, creating shortages. TrendForce estimates server DDR5 memory rose 93% to 98% in the first quarter of 2026 and expects conventional DRAM to climb another 10% to 15% in the fourth quarter. Google vice president Shakil Barkat said a memory price surge like this one has never been seen before.

Memory is also easy to hide, and Cornell says paperwork can be forged to disguise it. The stolen goods find buyers: he estimates six or seven out of ten stolen loads leave the US and end up in data centers abroad.