安联Allianz：2025年大而美数据中心：AI与基础设施如何为疲软的建筑业注入新活力报告（英文版）

Generative AI has become a structural driver of construction. The global AI boom is fueling a frenzy for data centers. In the US, 6.4 GW of data center capacity was under construction at end-2024, double the level of 2023. This alone represented about USD74bn of construction spending (i.e. excluding land, equipment, software etc.). EMEA’s pipeline surged +43% y/y to close to 14 GW in planning by mid-2025 (i.e. equivalent to about EUR170bn in construction spending) and China’s IT load is set t