Goldman Sachs forecasts 38% growth in US data-center power demand

Key Summary

Goldman Sachs forecasts US data-center power demand to rise 38% in 2026 and another 38% in 2027, translating to an additional 12 GW and 17 GW of demand, respectively. The bank expects US data-center capacity to reach 64 GW by the end of 2026 and 90 GW by the end of 2027. This growth outlook is largely unchanged from earlier estimates, with AI infrastructure investment expected to offset permitting headaches and political barriers. A recent poll found that only 14% of Americans support local builds for major hyperscalers, with concerns centering on electricity demand, utility costs, and local impacts.