The $7T AI data-center build-out
From McKinsey:
Who’s funding the AI data center boom?
September 21, 2025Millions of servers run 24/7 to power the AI boom in data centers across the globe, and demand isn’t slowing down. McKinsey research shows that by 2030, data centers are projected to require $6.7 trillion in capital expenditures worldwide to keep pace.
Who are the investors behind this multitrillion-dollar race to fund AI compute power? McKinsey’s Mark Patel, Pankaj Sachdeva, and coauthors share five key investor archetypes, each with unique opportunities, challenges, and potential solutions:
Builders: real estate developers, design firms, and construction companies
Energizers: utilities, energy providers, cooling/electrical equipment manufacturers
Technology developers and designers: semiconductor firms and IT suppliers
Operators: hyperscalers, colocation providers, GPU-as-a-service platforms, and more
AI architects: model developers, foundation model providers, and enterprises
Striking the right balance between growth and capital efficiency will be critical for investors—and for the future of AI itself. Explore these insights to learn more about the components, considerations, and constraints along the compute power value chain.
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