Big tech races for data center capacity amid AI surge
Business
Big tech companies are in a race to lock down more data center space to keep up with the AI surge.
According to Jefferies, North America's noncommenced leases soared 346% year over year in the second quarter of 2026, reaching 25.5 gigawatts, meaning everyone's trying to grab capacity before it runs out.
Global lease commitments total 36.2GW
Globally, lease commitments hit 36.2 gigawatts, with North America accounting for roughly 70% of the total.
Since power and permit delays are slowing new builds, nearly half of future hyperscaler capacity will come from third-party providers.
The Big three cloud giants plus Meta and Oracle are set to spend $1.1 trillion on infrastructure in calendar 2027, so expect even more data center action ahead.