AI Buildout Maintains Momentum as Data Center Capex Surpasses $3 Trillion by 2030, According to Dell'Oro Group

Hyperscalers, Neoclouds, and Sovereign AI Enter a New Phase of Infrastructure Expansion

According to a recently published report from Dell'Oro Group, the trusted source for market information about the telecommunications, networks, and data center industries, worldwide data center capital capex is forecast to maintain growth momentum and surpass $3 trillion by 2030. High-end accelerators powering accelerated servers optimized for AI are expected to represent the largest share of data center capex and remain the primary driver of capex growth over the forecast period.

"Our 2030 data center capex outlook has nearly doubled since the January 2026 forecast, reflecting higher hyperscale capex guidance, increased projections for global data center power capacity, and higher commodity costs," said Baron Fung, Vice President of Research at Dell'Oro Group. "High-end accelerators powering AI-optimized servers are expected to account for the largest share of data center capex and remain the primary driver of growth over the forecast period.

"However, the pace of growth will depend on the sustainability of investment, power availability, and supply chain conditions. Accelerated and heterogeneous computing, along with innovations in server efficiency, could help mitigate the rising cost and infrastructure demands of AI. The Top 4 US hyperscalers alone could represent about half of global capex, while enterprise investment remains constrained by uncertain AI returns," according to Fung.

Additional highlights from the Data Center IT Capex 5-Year July 2026 Forecast Report:

• High-end accelerators are expected to account for the largest share of data center capex and remain the primary driver of spending growth through 2030.
• General-purpose server demand is expected to benefit from growing inference, agentic AI, and storage workloads, broadening infrastructure growth beyond accelerated computing.
• The newly added AI-specialized cloud segment, comprising AI model builders and neocloud service providers, is projected to grow at nearly a 60 percent CAGR, outpacing the growth of other customer segments.