Global data center spending is projected to reach $31.6 trillion through 2050, with annual capital expenditure rising from roughly $800 billion this year to $1.8 trillion by mid-century, according to PwC's Global Data Centre Outlook, modeled by Oxford Economics across 46 countries and territories. Accelerated AI adoption could lift cumulative spending to $50 trillion, but power availability is emerging as the primary constraint, particularly in the United States. Lawrence Berkeley National Lab projects data centers will consume nearly 12% of U.S. electricity by 2030, while NERC's 2025 reliability assessment forecasts North American summer peak demand will increase by more than 224 gigawatts over the next decade, 69% above its prior projection. The United States is forecast to attract $15.1 trillion, followed by Asia Pacific at $8.2 trillion, Europe at $5.6 trillion, the Middle East at $1.1 trillion and Africa at $255 billion. PwC says continuing upgrades to chips and other ICT equipment will sustain spending beyond initial construction, with ICT equipment accounting for 93% of investment by 2050 compared with 70% today. Grid connections, generation, transmission, semiconductor access, policy certainty and community consent could determine which projects proceed. Tighter chip export controls could reduce cumulative investment to roughly $25.5 trillion before supply chains adapt, while community opposition halted or delayed at least 75 projects worth about $130 billion in the year's opening quarter.