US data center construction spending surged 57% YoY to $75B annualized in July, driven by AI infrastructure investment.
AI & Agents ·
US data center construction spending reached an annualized rate of $75 billion in July, representing a 57 percent year-over-year increase and following a 46 percent gain in June. Since the start of 2021, such spending has grown $66 billion in total, or 717 percent, with $51 billion of that increase occurring since the end of 2023 alone. Over the same recent period, all other private construction spending declined $120 billion.