Microsoft, Alphabet, Meta, and Amazon are pouring tens of billions into data centers, making AI infrastructure a central driver of US economic growth.
Last week the four reported planned capital expenditures for 2025 of roughly $370 billion, and they said spending will rise in 2026. Much of that money is going toward server capacity, cooling, power and networking that AI models require. Analysts say the construction and equipment demand tied to the builds is already affecting local markets and utility planning in several states. Analysts note the surge is prompting suppliers and contractors to expand hiring and for hardware vendors to accelerate production and logistics planning.
Microsoft was the biggest spender last quarter, channeling nearly $35 billion into data centers and related investments, equal to 45 percent of its revenue.
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