# US Data Centre Spending Doubles to $2.1 Trillion by 2028

> BofA forecasts global data centre spending to surge from $1 trillion in 2026 to $2.1 trillion by 2028, driven by AI demand.
- Title: US Data Centre Spending Doubles to $2.1 Trillion by 2028
- Summary: BofA forecasts global data centre spending to surge from $1 trillion in 2026 to $2.1 trillion by 2028, driven by AI demand. BofA Global Research estimates…
- Keywords: bofa, data centre spending, ai demand, global data centres, us data centres, ai services, market growth, money, business, Data, Centre, Spending
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/us-stocks/wall-street-guide/data-centre-spending-seen-more-than-doubling-to-2-1-trillion-by-2028/articleshow/135153616.cms
- Published: 2026-10-23T18:30:00+00:00
- Read time: 1 min
- Topics: bofa, data centre spending, ai demand, global data centres, us data centres, ai services, market growth, money, business
## Data Centre Spending Surge
Global data centre spending is expected to reach $1 trillion in 2026 and more than double to $2.1 trillion by 2028, BofA Global Research estimated.
## AI Drives Market Expansion
The data centre market, valued at $275 billion in 2022, could reach $2.93 trillion by 2030, with ai fueling a 37% compound annual growth rate from 2025 to 2030.
## Server Costs Dominate Spending
Servers account for the largest share of costs at $31.4 million per megawatt, followed by networking at $4.8 million per megawatt.
## Neoclouds Cost Less Space
Neoclouds, or ai focused data centres, cost about $57 million per megawatt but require less space than traditional facilities.
## Total Construction Costs
BofA estimated data centre construction costs at $49 million per megawatt, with it related expenses accounting for 78% of total spending.
## Other Functions Cost Less
Most other functions, including switchgear, power distribution, generators, backup power, chillers and cooling, cost between $100,000 and $1.1 million per megawatt.
## Key takeaway

BofA Global Research estimates global data centre spending will exceed $2.1 trillion by 2028, more than doubling from 2026 levels, due to rising AI service adoption.