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Global demand for data centers is surging — and investors are responding through development rather than acquisition.

More than 47,000 megawatts of new capacity is under construction worldwide, representing an estimated USD 550 billion in end value. When completed, this wave of projects, anchored in the U.S., will expand global capacity by roughly 50%, underscoring the market’s conviction in the sector’s long-term growth.

Yet that growth comes with rising pressure on power systems: data centers already consume 1.5% of global electricity, a figure expected to double by 2030. Can the grid keep up with the growth?