U.S. Data Center Development Pipeline

under development

Data center development in the U.S. is slowing down due to limitations in the power grid's capacity to support new large energy demand centers. In Q4 2025, only 25 gigawatts of electricity capacity were added to the data center project pipeline, half of the previous quarter's addition. Major tech companies like Alphabet, Amazon, Meta, Microsoft, and Oracle have committed $969 billion to data center infrastructure, but growth is constrained by available power. Oracle is funding its Stargate data center campuses with behind-the-meter natural gas to avoid reliance on the grid and prevent energy price increases for local communities.