US Data Center Spending Hits Record $75 Billion Rate in Biggest Jump Since 2025

The AI investment wave drove a surge in US data center infrastructure construction during July. Total spending reached an annualized rate of $75 billion, representing a 57% year over year increase that follows a 46% climb in June. Since the start of 2021, outlays for these facilities have risen 717%, adding $66 billion to the overall total.

This expansion contrasts with a $120 billion decline in other private construction spending for homes, offices, and shopping centers since the end of 2023. Data center construction specifically added $51 billion in spending during that same timeframe, marking the steepest annual growth since mid 2025.