SemiAnalysis: 50GW of New Data Center Capacity Will Come Online in 2027, Matching All Pre-2024 Global Supply

SemiAnalysis projects a +50GW global data center expansion in 2027 — roughly equal to the cumulative pre-2024 global data center market being replicated in a single year. More than 24GW across 40 major campuses are already in advanced construction for 2027 delivery, most more than halfway complete. The analysis pegs year-to-date binding, non-cancellable lease commitments at just under $1T, with Meta, AWS, Microsoft, Google, Nvidia, AMD, Anthropic and OpenAI all actively leasing gigawatt-scale capacity.