Goldman Sachs: Global data center capacity could reach 273 GW by 2030, with five-year investment demand of approximately $8.5 trillion

on November 3, Goldman Sachs released a research report, upgrading its 2030 global data center capacity forecast from 217GW to 273GW, a substantial increase from the approximately 103GW in 2025, with a compound annual growth rate of approximately 21%. The firm projects that approximately 170GW of new data center capacity will be added globally over the next five years. Based on an assumed investment of $50 billion per GW, this corresponds to potential capital expenditures of approximately $8.5 trillion.

Goldman Sachs has also upgraded its 2030 U.S. data center capacity forecast from 125GW to 152GW, anticipating a cumulative addition of 103GW after 2025, which accounts for roughly 60% of global new capacity during the same period. Goldman Sachs believes that the rapid expansion by new cloud service providers such as Neocloud to meet GPU demand is also a key factor driving the upward revision of the U.S. capacity forecast.