Overview

• President Donald Trump’s AI Action Plan is mobilizing private and foreign capital, as U.S. tech giants push record outlays for next‑generation facilities.
• The “Magnificent Seven” are on track in 2025 to spend about $364 billion on data center construction and upgrades, with the $500 billion Stargate campus illustrating the scale.
• Washington is deepening international buildouts through deals with the United Kingdom and the United Arab Emirates and expanded partnerships in Norway and Japan.
• Beijing is recalibrating after a state‑led surge left large training clusters underused, with industry reports saying up to 80% of new capacity sits idle and Xi Jinping warning against over‑investment.
• China is redirecting toward inference with a planned Wuhu hub to serve eastern cities, while U.S. export controls and hardware gaps persist and analysts flag bubble, security and environmental risks.