- PwC projects US$31.6 trillion in capital expenditure through 2050 to build the compute capacity needed for AI
- Annual data centre capital expenditure is forecast to rise from roughly US$800 billion per year in 2026 to $1.8 trillion per year in 2050
- Recurring chip upgrades—not construction—will drive the majority of long-term capital investment
- Power will be the decisive factor shaping where AI infrastructure investment flows
- Disrupted trade flows for chips could cut global investment by nearly 20%, while a growing sovereignty push would redistribute rather than reduce global investment
LONDON, 2 September 2026 – Global investment in AI infrastructure will hit a record US$31.6 trillion through to 2050, according to baseline projections in PwC’s Global Data Centre Outlook.
On an annual basis, data centre capital expenditure is forecast to rise from roughly US$800 billion per year in 2026 to $1.8 trillion per year in 2050.
The US, which is central to the advanced-chip ecosystem, is expected to capture almost half (48%) of this investment, at $15.1 trillion. Asia Pacific is expected to account for $US8.2 trillion cumulative capex, led by China and India, while sovereign AI strategies are accelerating investment in Europe and the Middle East.
Unlike traditional infrastructure booms, which taper off after the initial build out, AI infrastructure investment is expected to accelerate as chips and other ICT equipment require upgrades every few years. ICT equipment will account for an increasing share of investment—from 70% today to 93% by 2050.
Energy access core to the data centre rollout
The Outlook identifies five factors that will direct where investment flows globally. Chief of these is power, as affordable, reliable and low-carbon electricity at scale is the hardest requirement for many markets to deliver. Connectivity, security, policy certainty and community consent, along with GPU access, will also influence where investment lands.