U.S. data centers, a key component of the nation’s technology infrastructure, were a driving force behind a surge in equipment and software investment during H1/25, accounting for roughly one-third of real GDP growth. With data center costs ranging from $200 million for smaller facilities to well over $1 billion, data center financings in the U.S. were $30 billion in 2024 and could double to reach $60 billion in 2025 according to a new study, “Vertical Market Outlook Series: Data Centers,” released by the Equipment Leasing & Finance Foundation (ELFF). The study provides an overview of the U.S. data center vertical and addresses topics including macroeconomic factors, market dynamics and equipment/technology trends that will have an impact on the sector and its needs going forward.
“This [ELFF] study examines the unprecedented AI infrastructure buildout we’re seeing with some of the largest tech players — Google, Amazon, Meta and Microsoft — collectively planning to spend over $350 billion on AI-related data centers in 2025 alone,” Will Tefft, equipment manager at EverBank Corporate Asset Finance and trustee and research committee member for the ELFF, said. “This sizable infrastructure investment is not without its challenges as energy consumption, environmental impacts and other issues need to be addressed. Overall, this sector presents tremendous opportunities for the equipment finance industry’s characteristic innovative, flexible and expert solutions.”
The new study presents data and research from a variety of sources, and examines a range of issues, including:
- Data center ecosystem definition, composition, size and future growth
- Macroeconomic environment:
- S. government regulations and legislation
- Labor
- Sustainability
- Market dynamics and trends:
- Equipment technology
- Cooling systems
- Energy usage, storage and management
- Security
- Real estate
- Planned data center spending
- Trends impacting equipment finance
