Data Centres Surge Globally as Cloud Computing Demands Rise

AI and cloud computing are driving an unprecedented global construction boom for data centers, according to Allianz Commercial experts. Global spending on these facilities is projected to reach several trillion US dollars by 2030, with the United States and China leading the charge.

The surging demand for high-performance computing power to support artificial intelligence workloads has created a tangible wave of infrastructure investment. Some individual data center construction projects now exceed $20 billion in cost, reflecting the scale and urgency of development worldwide.

Market research estimates that up to $7 trillion could be invested in data centers by 2030, driven by technology giants in the US and China. Europe, meanwhile, continues to trail behind. Industry leaders Amazon, Microsoft, and Google Cloud accounted for nearly two-thirds of global cloud revenue in Q2 2025. Together with major Chinese players such as Alibaba and Tencent, their combined capital expenditure for 2025 is expected to reach hundreds of billions of dollars—much of it focused on building industrial-scale infrastructure and securing reliable energy sources to power AI and cloud operations.

Allianz Commercial highlights that this rapid expansion not only fuels economic growth but also introduces new risks and exposures for both companies and insurers as the industry evolves at speed.