Dell'Oro Group raised its data center capex growth forecast to 24% CAGR through 2028, driven by AI infrastructure demand. The firm projects more than $1 trillion in AI-related infrastructure spending (servers with accelerators, networking, storage, facilities) in cloud and enterprise data centers over the next five years. Accelerated servers are forecast to represent more than half of total server revenue by 2028, and the top four US cloud service providers (Amazon, Google, Meta, Microsoft) are projected to account for half of global data center capex as early as 2026. For financial institutions, this represents both a material upward revision of capital intensity and a key assumption point: the projection presumes that AI capex allocations translate into actual deployment, not just bookings.
335 other tracked developments touching the same claims.