Data Centers

The rapid growth of generative AI and hyperscale cloud infrastructure is creating unprecedented demand for data center capacity and electrical power. A handful of companies have committed to spend more than $600B in 2026 alone and total spending on data centers may well eclipse all previous capex and infrastructure booms, but massive uncertainty remains about the future of the industry.

Power availability for the data center buildout remains unclear, complicated development financing structures have come under recent scrutiny, the two most popular AI models (Anthropic's Claude and Open AI's Chat GPT in March 2026) are both burning money at a fantastic pace, and public opposition to new data centers is reaching a fever pitch.

This section analyzes the infrastructure buildout reshaping commercial real estate markets, power grids, and capital allocation through 2030 and beyond, summarizes various types of data centers as the industry evolves, and provides context for commonly cited metrics related to costs and power usage.

U.S. Data Center Capital Spending Boom 2025–2030

We estimate ~$3.0 trillion in cumulative U.S. data center capex through 2030—the largest private infrastructure cycle in American history

Data Center Power Demand vs. U.S. Grid Capacity

U.S. grid demand projected to accelerate as data centers drive 426–606 TWh of new load by 2030, ending two decades of flat growth

Data Center & Power — Metrics Cheat Sheet

Interactive calculator translating MW/GW capacity into TWh, equivalent homes, cost breakdowns, and physical footprint—with side-by-side scenario comparison

Data Center Metrics: Methodology & Sources

Detailed methodology behind the Metrics Cheat Sheet: power conversion factors, utilization research, cost model construction, and complete source documentation

Key Data Sources & Research

International Energy Agency
www.iea.org - "Energy and AI" Special Report (April 2025)

McKinsey & Company
www.mckinsey.com - Data center demand, capacity, and capex analysis

U.S. Energy Information Administration
www.eia.gov - Historical electricity generation and consumption data

S&P Global / 451 Research
www.spglobal.com - Data center grid-power demand forecasts

Grid Strategies
gridstrategiesllc.com - National load growth reports and utility forecasts

U.S. Department of Energy
www.energy.gov - Capacity requirements and grid infrastructure analysis