Global data center spending to reach $2.1 trillion by 2028
Big news for the tech world: global data center spending is expected to more than double, hitting $2.1 trillion by 2028.
This huge jump, from the data center market's $275 billion value in 2022, is all about powering up for AI, as companies invest heavily in the infrastructure needed to keep up with smarter tech and bigger digital demands.
Servers and networking dominate equipment costs
Most of this cash will flow to building and equipping new data centers, especially servers (the biggest expense at $31.4 million per megawatt) and networking gear ($4.8 million per megawatt).
Construction isn't cheap either: each megawatt costs about $49 million, with IT making up 78% of that bill.
Manufacturers making things like generators and cooling systems are set to benefit big time, thanks to a projected 37% annual growth rate through 2030.