US hyperscalers are about to unleash an unprecedented capex wave.
From 2022–24, they’ve already spent $477 billion on data centers. But between 2025–27, that number is expected to more than double to $1.15 trillion, per Morgan Stanley.The math is staggering: global data center spend could hit $2.9 trillion through 2028, including $1.6T on chips/servers and $1.3T on infrastructure like real estate, power, and build costs.That means investment needs of over $900 billion in 2028 alone. For context, the entire S&P 500 combined spent ~$950 billion in capex in 2024.The macro impact is just as large. Economists estimate data center and power-related spending could add up to 40bp to US GDP growth between 2025–26.Don’t stay bearish on markets until capex growth slows significantly and right now, it doesn’t look like that’s happening.Source: StockMarket.News
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