Where Data Tells the Story
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Hyperscaler capital expenditure (CapEx) is entering a historic growth phase, driven by the AI revolution. Between 2015 and 2025, Amazon, Microsoft, Google, and Meta will invest a combined USD 315 billion into data center infrastructure, which is over 13 times their 2015 spending.
What started as an effort to scale cloud services has evolved into a race to build AI-first data centers optimized for GPUs, custom silicon, and high-performance computing. In 2015, total CapEx stood at USD 23.8B. By 2020, fueled by cloud adoption and early AI deployments, it reached USD 94.2B. Now, the AI inflection point is pushing annual CapEx to unprecedented levels, with USD 224B in 2024 and USD 315B projected in 2025.
External forces like the USD 500B Stargate Project, backed by SoftBank, OpenAI, and Oracle, are accelerating global AI buildouts. For hyperscalers, this is not just an investment, it is a long-term bet that AI will transform every layer of the digital economy.
The race is on, and the numbers show just how massive it is about to get.