AI DEMAND COULD LIFT DATA CENTER SPENDING TO $2.1 TRILLION BY 2028

What happened: Reuters reported a Bank of America Global Research forecast of $2.1 trillion in data center spending by 2028, tied to demand for artificial intelligence services. Key numbers: $1 trillion spending in 2026. Market valued at $275 billion in 2022, possible $2.93 trillion in 2030. Why it matters: Chipmakers and server developers have been main beneficiaries of the buildout, and spending is becoming a fast-growing revenue source for industrial firms. The IEA says supply chain and chip manufacturing bottlenecks make more aggressive power-demand scenarios less likely. Coverage: 4 outlets in 24h

Reuters reported a Bank of America Global Research forecast of $2.1 trillion in data center spending by 2028, tied to demand for artificial intelligence services.

Chipmakers and server developers have been main beneficiaries of the buildout, and spending is becoming a fast-growing revenue source for industrial firms. The IEA says supply chain and chip manufacturing bottlenecks make more aggressive power-demand scenarios less likely.