PricewaterhouseCoopers forecasts cumulative global data center spending of $31.6 trillion through 2050, with AI demand pushing annual capital expenditure from roughly $800 billion this year to $1.8 trillion by mid-century, the firm said Wednesday.

The figures come from PwC's Global Data Centre Outlook, which covers 46 countries and territories and was modeled by Oxford Economics. The report also outlines an accelerated scenario in which spending reaches $50 trillion over the same period if AI adoption moves faster than the central forecast, according to Bloomberg.

The United States is expected to receive the largest share of that capital — $15.1 trillion, or close to half the global total, the company said. Among other regions, Asia Pacific is forecast at $8.2 trillion, with China and India as primary drivers, followed by Europe at $5.6 trillion, the Middle East at $1.1 trillion, and Africa at $255 billion.

Unlike prior infrastructure buildouts — such as railways, electrification, or the rollout of fiber internet — AI data center investment is not expected to taper after an initial construction phase. PwC said chips and other information and communications technology equipment require upgrades every few years, sustaining capital expenditure indefinitely. ICT equipment is projected to account for 93% of data center investment by 2050, up from 70% today, the company said.

Power availability is identified as the primary factor shaping where investment lands globally. Meeting that requirement — securing affordable, reliable, and clean electricity in sufficient quantity — is the steepest hurdle for most markets, PwC said. Connectivity, security, policy certainty, community consent, and access to graphics processing units will also influence investment flows.

The report tested two alternative scenarios tied to trade policy and digital sovereignty. Under a tighter export-controls scenario, in which chip supply chains face disruption, cumulative global investment through 2050 would be reduced by close to a fifth relative to the central forecast — settling at roughly $25.5 trillion — before clawing back some ground as supply chains adapt, PwC said. A second scenario examined the effects of rising digital sovereignty priorities and concluded that pushing capital into domestic infrastructure would reshuffle where investment flows rather than shrink the overall pool, directing spending toward markets with substantial local demand and limited existing capacity.

The data center buildout has run into resistance in some communities. Research group Data Center Watch found that at least 75 projects representing roughly $130 billion in combined value were halted or put on hold due to community resistance in the year's opening quarter, according to Bloomberg. That pushback has become a political issue in the United States, where voter opposition to data centers has created friction for Republicans ahead of November's midterm elections, with concerns centered on higher electricity bills and grid strain.