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Data Center Investments Surge, Outpacing Oil and Gas Spending

3/31/2026

27 4 Full Breakdown

Summary

Story summary

In 2025, global data center capex reached $770 billion, surpassing upstream oil and gas investments.
Rystad Energy expects by 2026 data center investments to match renewable generation and the full oil and gas sector.
The United States led with 42% of installed capacity, despite potential supply chain challenges to stability.
By 2030, growth is expected in Finland, Portugal, and Thailand, benefiting Siemens Energy and Bloom Energy.

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Story summary

In 2025, global data center capex reached $770 billion, surpassing upstream oil and gas investments.
Rystad Energy expects by 2026 data center investments to match renewable generation and the full oil and gas sector.
The United States led with 42% of installed capacity, despite potential supply chain challenges to stability.
By 2030, growth is expected in Finland, Portugal, and Thailand, benefiting Siemens Energy and Bloom Energy.