A new BloombergNEF analysis warns that U.S. power demand from data centers is rising far faster than expected. The research projects 106 gigawatts of demand by 2035, a 36% jump from its April forecast, underscoring the explosive growth driven largely by the AI boom. One gigawatt can power up to a million homes.
Facilities are getting much bigger and moving farther from major cities, with most new developments exceeding 100 megawatts. Several gigawatt-scale campuses are already in the pipeline.
Data centres consume 5% of America’s electricity, up from 2% a decade ago. The International Energy Agency projects nearly 10% by 2030. More at today's Chartbook Top Links: pic.twitter.com/5K4AiXOAo8
— Adam Tooze (@adam_tooze) November 8, 2025
Meanwhile, Big Tech’s spending is surging, with Barclays estimating $390 billion in capex this year from Meta, Google, Amazon, Microsoft and Oracle — a 71% increase.
The Trump administration and federal regulators are working to speed up grid connections as companies scramble for new power supplies, including reviving shuttered plants.
But the rapid expansion is stirring concerns about grid reliability, rising electricity prices and regional resistance to large data-center projects.
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