The data center era that's reshaping America

AxiosAugust 25, 2026en

Nothing is driving more new U.S. economic investment or political volatility than data centers . Why it matters: They're the Great Subplot of 2026, THE topic animating the AI race and elections . Everyone needs to understand the size, scope and sentiment surrounding them. The big picture: It's almost impossible to wrap your brain around the scale of the cash dedicated to this buildout — now the biggest capital project in human history. The five biggest hyperscalers — Amazon, Microsoft, Google, Meta and Oracle — are set to spend more than $750B on capital expenditures this year. That's up 67% from last year, and roughly 75% of it is earmarked for AI infrastructure. The three things about data

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