Datacenter spending surges past $650B, rivals economies of entire nations

The AI boom is driving datacenter investment to levels once reserved for national budgets. Amazon alone spent over $100 billion on infrastructure in 2025—more than the GDP of Luxembourg—while Google, Microsoft, and Meta each topped $69 billion. Analysts at Omdia say global capex will hit $657 billion this year, nearly doubling 2023. With AI models like GPT-5 fueling insatiable demand, hyperscalers are racing to build multi-gigawatt campuses once unimaginable in scale.