Hyperscaler capex rise
Since 2022, quarterly hyperscale operator capital spending has accelerated, increasing by nearly 180% to $142 billion in the third quarter of 2025.
The research firm said hyperscale capital spending enabled a comparable 170% increase in the amount of operational capacity added each quarter. At the same time, AI-driven expansion has also increased the US share of worldwide hyperscale operational capacity.
From a geographic perspective, the U.S. remains the dominant market, accounting for 55% of global hyperscale operational capacity, up from 52% three years ago.
Amazon, Microsoft, and Google remain dominant
Amazon, Microsoft, and Google have the most significant data center footprints. In addition to their dominant position in the U.S. market, each company in this trio operates multiple data centers in many other countries.
These three providers alone now account for 58% of all hyperscale data center capacity.
Meta, Alibaba, Tencent, Oracle, Apple, ByteDance, and other relatively minor hyperscale operators follow the top three in ranking.
However, these providers aren’t going to be sitting pat. Synergy noted that the known pipeline of future hyperscale data centers currently stands at 770 facilities. These facilities are at various stages of planning, construction, or fit-out.
Dinsdale said, “We have also seen a substantial expansion in the known future pipeline.”
“Based on this analysis, Synergy has revised its five-year outlook upward for several core metrics,” he said. “The firm now expects total hyperscale data center capacity to double in just over twelve quarters, underscoring the scale and speed at which AI-driven infrastructure investment is reshaping global cloud-related markets."
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