Global data centers dealmaking surged to hit another record high this year, driven by a rush to build out the infrastructure required for energy-intensive AI workloads.
That surge came even as investors grew increasingly wary of inflated artificial intelligence valuations and the financing underpinning the rapid expansion of data centers. Global stocks sold off in November as worries of an AI-fueled bubble persisted.
But S&P Global reported that more than $61 billion has flowed into the data center market this year, up slightly from $60.8 billion last year, amid what it called a “global construction frenzy.”
A surge in debt financing contributed to the record high as hyperscalers increasingly tap private equity markets rather than funding the expensive infrastructure themselves.
That trend has sparked concerns from some investors as they question the value of the advanced tech that data centers house.
