Brookings Forecast Puts US Data Center and AI Infrastructure Investment at $10.3 Trillion Through 2032

A Brookings assessment, as reported by Calcalistech citing The Wall Street Journal, projects $10.3 trillion of US investment in data centers and related AI infrastructure from 2025 to 2032. That would represent an annual average equivalent to 3.6% of US GDP.

The estimate frames the AI-infrastructure cycle as a potentially unprecedented US infrastructure build-out relative to the size of the economy. It is a forecast rather than a measure of deployed data-center capacity, completed projects or actual spending.

Other estimates cited in the material point to the scale of the spending cycle. Goldman Sachs estimates US AI investment at 1.9% of GDP in 2026. FactSet estimates that Microsoft, Meta, Alphabet, Oracle and Amazon could spend $4.2 trillion over the four years through the end of 2029.

For the data-center supply chain, the projected investment cycle could translate into substantial demand for construction capacity, electricity and labour. However, the same dynamic could increase sensitivity to power availability, the cost of capital and the pace at which AI workloads are monetised.

The material also identifies a growing role for debt financing in hyperscaler spending. It flags the risk that AI revenues may prove insufficient to service debt raised for data-center and associated infrastructure construction. Joint ventures, private credit, securitisation and special-purpose vehicles may further complicate assessment of where financial risk is concentrated.