Bank of America projects the global data center market will grow to $2.2 trillion by 2030, driven by AI infrastructure and hyperscaler consolidation.

Bank of America's Global Research team forecasts the total data center systems market will reach $2.2 trillion by 2030, driven overwhelmingly by the buildout of artificial intelligence infrastructure. The projection, led by BofA semiconductor analyst Vivek Arya, reflects a market the bank has continually revised upward. AI data center systems alone now account for roughly $1.7 trillion of that $2.2 trillion total, up from previous estimates that ranged between $1.2 trillion and $1.4 trillion.

One notable shift in BofA's analysis is the resurgence of the server CPU. The bank now estimates the server CPU total addressable market will exceed $210 billion by 2030, revised upward from an earlier $170 billion forecast. This CPU renaissance is driven by agentic AI—a category of applications where AI systems operate with greater autonomy, making decisions and executing tasks rather than simply generating text or images. These workloads rely more heavily on CPUs than on the GPUs that power training runs for large language models.

Currently, the server CPU market represents roughly 10% of the projected $2.2 trillion total, up from approximately 7% in earlier forecasts.

The spending engine behind these projections is the hyperscaler cohort—Microsoft, Google, Amazon, and Meta. BofA expects their combined capital expenditure to exceed $700 billion in 2026 alone, representing a 75% year-over-year increase.

BofA has financed over 5 gigawatts of global data center projects in the last eighteen months, including a $16 billion data center campus in Michigan designed to handle workloads for Oracle and OpenAI. The $2.2 trillion figure encompasses the full stack of data center systems: servers, accelerators, memory, networking equipment, and related hardware. AI-specific components are expected to dominate, which is why the AI data center systems allocation grew from earlier estimates to $1.7 trillion while the overall market envelope only expanded modestly.