North America Sees Record Surge in Data Center Construction

Data center supply under construction jumps by 70% as demand for AI and cloud computing grows.

Data center capacity in North America's top markets increased by 3.9 gigawatts in the past year.
New inventory equivalent to Silicon Valley's entire capacity was added in the first half of 2024.
Vacancy rates for data centers hit a record low of 2.8%, highlighting intense demand.
High-powered computing needs are driving up prices for newer data centers.
Smaller markets like Northern Indiana and Idaho are becoming more attractive for data center development.