The global build-out of artificial intelligence (AI) infrastructure will require up to $1.6 trillion over the next five years, with access to power, not capital, now the primary constraint on growth, according to Knight Frank.
Global data center capacity is forecast to expand from 62 gigawatts in 2025 to more than 110 gigawatts by 2028, as hyperscalers race to scale AI infrastructure. AI-related capacity will more than triple from 8 gigawatts to 27 gigawatts by 2028, increasing its share of global workloads from 12.9 percent to 24.5 percent. The shift is turning data centers into one of the most capital-intensive and energy-dependent sectors in the global economy.
By 2030, AI-related deployment could reach 60 gigawatts, requiring $676 billion to $780 billion in development costs alone, with tenants expected to spend an equivalent or greater sum on IT infrastructure. Total global data center spending is projected to reach $3.2 trillion by the end of the decade.
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