Global Data Center Capex Approaching $1 Trillion in 2026, Top Hyperscalers at Nearly $600 Billion

Summary

Dell'Oro Group published a landmark infrastructure forecast showing global data center capital expenditures approaching $1 trillion in 2026, a milestone reached sooner than anticipated. The report projects cumulative data center capex reaching $1.7 trillion by 2030. The top four US hyperscale cloud providers — Amazon, Google, Meta, and Microsoft — entered 2026 with combined data center capex of nearly $600 billion, driven by AI training and inference workloads. The growth is being driven by dep