Bank of America: data center spending will exceed $1 trillion in 2026 and grow to $2.1 trillion by 2028
Prepared by Sintelligent with the help of SI. Published in SI: . Updated: .
The bank expects data center spending to double in two years, but warns about electricity and returns.
As relayed by Tech Startups, a Bank of America Global Research forecast published on October 23 projects that data center spending will exceed $1 trillion in 2026 and more than double to $2.1 trillion by 2028; the global data center market will reach $2.93 trillion by 2030, growing 37% a year on average from 2025. A megawatt of a conventional data center costs about $49 million, versus $57 million for an SI-oriented one (a "neocloud"); 78% of costs go to IT equipment. The bank names risks: access to electricity, permits and grid connection; returns, it says, depend on whether revenue from SI products justifies the investment. This is the bank's forecast, not a fact.
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