需求由Alphabet、Microsoft、Amazon、Meta和Oracle推动，这些公司预计仅2026年资本开支就达7,000亿美元。美国4月资料中心建设月支出达500亿美元，JLL预测全球资料中心容量到2030年将翻倍至200GW。Corning股价一年上涨逾270%，Eaton第一季资料中心订单增加240%，Comfort Systems USA股价上涨260%。
风险在于支出是否可持续。Bain & Company估计，科技业每年必须产生2兆美元AI收入，才能证明当前资料中心支出趋势合理。DeepSeek在2025年初引发市场抛售，OECD亦警告若美国-伊朗战争推高能源价格，AI公司可能出现市场重估；但Schneider Electric和Siemens仍称AI资料中心是长期结构性增长来源。
The AI boom is lifting more than 200 listed companies tied to data-centre or semiconductor supply chains above the MSCI World Index, which rose more than 21% in the year to June 9. Beneficiaries include Caterpillar, Hochtief, Nucor and Ford Motors; Ford Motors’ shares rose by one-fifth in May after it said its electric-vehicle business would pivot toward battery storage for data centres.
Demand is being driven by Alphabet, Microsoft, Amazon, Meta and Oracle, which project $700bn of capital spending in 2026 alone. US monthly data-centre construction spending reached $50bn in April, while JLL expects global data-centre capacity to double to 200GW by 2030. Corning shares rose more than 270% in one year, Eaton’s first-quarter data-centre orders increased 240%, and Comfort Systems USA shares climbed 260%.
The risk is whether spending is sustainable. Bain & Company estimates the technology industry must generate $2tn in AI revenue each year to justify current data-centre spending trends. DeepSeek triggered a market sell-off in early 2025, and the OECD warned that higher energy prices from a prolonged US-Iran war could cause market repricing of AI companies; however, Schneider Electric and Siemens still describe AI data centres as a long-term structural growth source.