Data center spending to top $1 trillion by 2029 as AI transforms infrastructure

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Data center spending to top $1 trillion by 2029 as AI transforms infrastructure

Massive global demand for AI technology is causing data centers to increase spending on servers, power, and cooling infrastructure. As a result, data center CapEx spending will hit $1.1 trillion by 2029, up from $430 billion in 2024, according to Dell’Oro Group. Much of this growth is due to AI. Enterprises are now spending about 35% of their data center CapEx budgets on accelerated servers optimized for AI, up from 15% in 2023, says Dell’Oro an…