Oracle, Microsoft, Amazon, Meta and Alphabet plan about $800 billion in capital spending in 2026, largely for AI infrastructure, according to a report by The Atlantic. The buildout is supporting U.S. growth, but economists warn that competition for borrowing, land, materials and labor could limit investment in housing, industry and small businesses.
The United States has 543 data centers under construction and 2,513 more in planning. The report says data center construction spending rose 65% from a year earlier, while residential construction and retail property investment fell 10%. Experts said the overall economic effect will depend on how much AI raises productivity.
