Global Data Center Capacity update: Increased capacity expectations, but continued tightness

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Global Data Center Capacity update: Increased capacity expectations, but continued tightness

Goldman Sachs Global Technology

Increasing global data center capacity to 217GW by 2030E (v. 101GW in 2025)

We update our global data center capacity forecasts for the latest updates to 451

Research’s data center tracker (through C1Q26). Per 451 Research data center project

tracking, we now expect ~217 GW of live global data center capacity by 2030, implying

growth from ~101 GW in 2025 at a 17% 2025-2030 CAGR. This +116GW of capacity net

addition over the next 5 years would approximate a cumulative $5.8 bn capex assuming

$50 bn per GW, which should be covered by the forecast average ~$1 tn hyperscale

capex (per annum, using Visible Alpha Consensus Data), which has historically been

revised higher and does not include SpaceX’s AI capex, private AI lab capex, or

datacenter platform capex.

1Q26 451 Research data for 2026-2030 annual global data center capacity was revised

upwards by 5% on average v. 4Q25, and by 13% v. 3Q25. Per 451 Research, global data

center capacity additions should predominantly be from retail/wholesale providers &

hyperscalers (70-90% of total global net capacity additions annually through 2030) and

be located in the US (~60-70% of total global net adds through 2030).

Exhibit 1: Global Data Center Capacity should scale to Exhibit 2: Global Data Center Capacity forecasts for

~217 MW by 2030 (+116 GW v. 2025) 2026-2030 have been revised upwards over time (+5% v.

Gloabl Data Center Capacity (MWs) & year-over-year change (%) 4Q25 forecasts, +13% v. 3Q25 forecasts)

Global Data Center Capacity forecast estimates over time (MW)

250,000 35% 250,000

(MWs) 30% 200,000 (%) 200,000 forecasts

25%

Capacity 150,000 20% change 150,000 Capacity

15% (MW) Center 100,000