AI Ignites a $3 Trillion Data Center Supercycle, Doubling Global Capacity by 2030

AI Is Fueling a $3 Trillion Data Center Build Cycle - Here's What Developers and Contractors Need to Know

Data center capacity is set to almost double to about 200 GW by 2030, up from roughly 103 GW today. AI is the main driver: by decade's end, about half of global capacity will support AI workloads. That's the headline from JLL's latest global outlook - and it signals multi-year opportunity for real estate, construction, and infrastructure teams.

Despite the scale, fundamentals look healthy: 97% global occupancy, and 77% of projects under construction are pre-leased. JLL estimates a $3 trillion investment wave over the next five years, including about $1.2 trillion in new real estate value and roughly $870 billion in additional debt. Lease rates are projected to climb ~5% CAGR globally through 2030, led by the Americas at ~7% annually.

AI Loads Are Redefining Design

AI training facilities can demand up to 10x the power density of traditional data centers and often command ~60% lease-rate premiums. Around 2027, inference (running models) is expected to overtake training as the dominant compute need - a subtle shift with big implications for cooling, distribution, and redundancy.

Semiconductor demand is tilting as well. AI chips could reach ~50% of global semiconductor revenue by 2030, with custom silicon gaining share as hyperscalers design their own processors. Longer term, experimental approaches like neuromorphic computing may cut energy per inference, but they're not ready to scale.

• Engineer for higher densities and mixed cooling (air + liquid). Build for phased upgrades, not one-and-done designs.
• Secure long-lead gear early. Average equipment lead times are ~33 weeks, about 50% longer than pre-2020, and many developers are preordering ~24 months ahead.
• Lean on modular and prefab. Annual sales of modular systems and micro data centers could reach $48B by 2030, helping compress schedules and simplify commissioning.

Site Selection Has a New Rule: Speed to Power

In many primary markets, grid interconnection now exceeds four years. Some jurisdictions - including Dublin and parts of Texas - effectively require "bring your own power". Developers are financing generation, pairing renewables with storage, and in the U.S., using natural gas as both bridge power and, increasingly, permanent on-site generation.

In EMEA, projects that combine renewables with private transmission can cut tenant power costs by up to 40% versus grid tariffs. Battery energy storage is gaining ground for short-duration resilience and grid-support services, which can also help accelerate interconnection approvals. By 2030, solar plus storage is expected to be a cornerstone of energy strategies worldwide; interest in nuclear is rising, but meaningful new capacity is unlikely before the 2030s.

• Prioritize interconnection queue position and right-of-way control as early as land control. Treat power as the lead constraint.
• Run parallel tracks: PPAs, behind-the-meter gas, and BESS. Tenants will scrutinize cost, reliability, and emissions - all three matter.
• Target parcels near substations, high-capacity transmission, gas laterals, and viable renewable resources. Land cost matters less than megawatts delivered on time.

Development Models Are Scaling Up

In the U.S. (which represents close to 90% of Americas capacity), developers are shifting to phased campuses measured in hundreds of MW to gigawatts. Single-tenant hyperscale leases are increasingly preferred over multi-tenant colo. For 2027 deliveries, speed to power outranks proximity to urban cores or even raw land price.

Regional notes: The Americas should remain about half of global capacity and post the fastest growth. Asia-Pacific is set to climb from roughly 32 GW to 57 GW, led by colocation, while on-prem enterprise capacity declines by ~6%. EMEA adds about 13 GW, with demand concentrated in London, Frankfurt, and Paris, plus fast-growing Middle Eastern markets.

Construction Reality: Tight Supply, Persistent Delays

More than half of projects in 2025 saw delays of 3+ months. Developers are reserving transformer, switchgear, generator, and cooling capacity years ahead to stay on schedule. Standardization and prefab skids are moving from "nice-to-have" to default.

• Standardize on a limited set of electrical and mechanical topologies. Repeatable blocks speed design, procurement, and commissioning.
• Diversify OEMs and place deposits early. Add QA/QC capacity and parallel critical-path testing to pull in risk.
• Use micro phases to activate partial utility capacity while the full interconnection catches up.

Capital Markets: Bigger Checks, More Structure

Core strategies now account for about 24% of fundraising, up from less than 10% in earlier years - a sign of growing institutional comfort. Since 2020, sector M&A has topped $300B. Expect more recaps and JVs as portfolios mature.

Global core fund capital formation could exceed $50B in 2026 with target returns of 10%+. ABS and CMBS are expanding quickly, with issuance projected to reach about $50B in 2026. Capital stacks are getting more complex as lenders and equity partners seek stronger safeguards for multibillion-dollar programs.

• Pair anchor pre-leases with structured step-in rights and performance covenants. It lowers financing costs.
• Consider ABS/CMBS on stabilized cash flows; keep construction risk ring-fenced with separate vehicles.
• Form JVs with power developers or utilities to de-risk interconnection and fuel supply.

Quick Regional Checklist

• U.S./Americas: Plan campuses in MW-to-GW phases. Lock power first. Single-tenant hyperscale demand is the core engine.
• EMEA: Focus on established hubs (London, Frankfurt, Paris) and Middle East markets with national digital programs. Renewables plus private lines can materially reduce tenant costs.
• APAC: Colocation-led growth; enterprise on-prem shrinks ~6%. Expect a strong pipeline of multi-tenant builds with high-density pods.

What To Do Next

• Build a power-first site scorecard: interconnection queue status, deliverable MW by year, TOU pricing, curtailment risk, and behind-the-meter options.
• Preorder critical gear and reserve factory slots 18-24 months out. Lock alternates for transformers, switchgear, and cooling.
• Adopt a modular kit of parts across campuses to compress design and commissioning cycles.
• Set an energy plan that blends PPAs, storage, and (where viable) on-site gas. Prove cost, reliability, and emissions with data.
• Design capital stacks around pre-leased phases and clear step-up paths to stabilization. Keep dry powder for recaps and JV opportunities.

Source

See JLL's global data center research for full detail: JLL Data Centers.

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