Moody’s Sees Trillions Flowing Into Data Centers Through 2031

The Daily Dig:

Moody’s Investors Service expects global data center capital spending to remain elevated through at least 2031, driven by AI workloads, cloud expansion, and sustained enterprise demand. The firm is clear this is not a short-cycle spike. It’s a prolonged infrastructure buildout, led by hyperscalers and large enterprise operators with balance sheets strong enough to absorb longer schedules and higher upfront costs.

Moody’s estimates that total global investment tied to data centers and the supporting infrastructure needed to power them could approach $3 trillion over the coming years. That figure spans more than just buildings. Power generation, transmission, grid upgrades, redundancy, and advanced cooling all factor in.

Power availability remains the primary constraint, but grid interconnection delays, substation timelines, equipment lead times, and skilled labor shortages are also stretching delivery and raising execution and credit risk, especially for smaller or speculative developers.

TheJobWalk Thoughts:

This matches what’s happening in the field. Data center projects are no longer about speed alone. Power strategy, utility coordination, and long-lead equipment now sit on the critical path. Contractors who understand phased delivery and can manage extended staffing plans will stay busy. Those still treating these as fast-turn boxes are going to struggle as complexity, not demand, becomes the limiter.