PwC forecasts $31.6 trillion data center spending through 2050

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PricewaterhouseCoopers forecasts cumulative global data center spending of $31.6 trillion through 2050, with AI demand pushing annual capital expenditure from roughly $800 billion this year to $1.8 trillion by mid-century. The figures come from PwC's Global Data Centre Outlook, which covers 46 countries and territories and was modeled by Oxford Economics. The report also outlines an accelerated scenario in which spending reaches $50 trillion over the same period if AI adoption moves faster than the central forecast. The United States is expected to receive the largest share of that capital — $15.1 trillion, or close to half the global total. Among other regions, Asia Pacific is forecast at $8.2 trillion, with China and India as primary drivers, followed by Europe at $5.6 trillion, the Middle East at $1.1 trillion, and Africa at $255 billion. Unlike prior infrastructure buildouts, AI data center investment is not expected to taper after an initial construction phase, as chips and other ICT equipment require upgrades every few years, sustaining capital expenditure indefinitely. ICT equipment is projected to account for 93% of data center investment by 2050, up from 70% today. Power availability is identified as the primary factor shaping where investment lands globally, with securing affordable, reliable, and clean electricity the steepest hurdle for most markets. The report tested two alternative scenarios: under tighter export controls, cumulative global investment through 2050 would be reduced by close to a fifth relative to the central forecast, settling at roughly $25.5 trillion; a second scenario on digital sovereignty would reshuffle investment flows rather than shrink the overall pool. The buildout has faced community resistance, with at least 75 projects representing roughly $130 billion in combined value halted or put on hold in the year's opening quarter, according to Data Center Watch.

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