US data centre spending seen more than doubling to $2.1 trillion by 2028, estimates BoFA
Global data centre spending is expected to reach $1 trillion in 2026 and more than double to $2.1 trillion by 2028, driven by rising demand for AI services, BofA Global Research estimates. The data centre market could reach $2.93 trillion by 2030 as AI fuels rapid infrastructure expansion.
Global data centre spending is expected to reach $1 trillion in 2026 and more than double to $2.1 trillion by 2028, BofA Global Research estimated in a note on Friday, driven by growing demand for and development of AI services, Reuters reported.Data centre spending has emerged as a fast growing source of revenue for industrial companies that make generators, construction equipment, switchgear and chillers.US MarketsPowered ByAs on 24 Oct 2026, 12:14 AM ISTS&P 500 Top GainersCrown Castle86.74(10.03%)Palo Alto Networks380.02(7.07%)SLB52.99(6.93%)CrowdStrike Holdings254.25(6.85%)Gainers»S&P 500 Top LosersLKQ17.67(-21.36%)Coterra Energy32.56(-8.62%)Globe Life155.12(-7.89%)AT&T21.16(-6.97%)Losers»AI drives data centre expansionThe data centre market, valued at $275 billion in 2022, could reach $2.93 trillion by 2030, BofA said.
