Investment in artificial intelligence data center infrastructure is predicted to hit $31.6T through to 2050 — but Europe is on track to punch below its weight when it comes to securing development in the booming sector, with Amsterdam serving as an epitome of why.
In its Global Data Center Outlook 2026-50, consultancy firm PwC forecasts annual capital expenditure in data centers to increase from $800B per year in 2026 to $1.1T by 2030 and to $1.8T annually in 2050.
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The United States is predicted to secure close to half of the investment, 48%, while Europe is expected to capture $5.6T in cumulative capex through to 2050, a smaller share than its proportion of global GDP.
PwC highlighted Amsterdam’s 2025 ban on new data centers as a clear example of why Europe is falling behind other regions when it comes to AI infrastructure build-out. PwC connects Europe’s shortfall to three causes: power constraints, planning friction and fragmented regulation across national borders.
The decision to stop permitting new data centers in Amsterdam, due to land and grid limitations, is described in PwC's outlook as emblematic of a wider European pattern rather than an exception. A national restriction on hyperscale sites, including locations of more than 10 hectares or using more than 70 megawatts, has also been in place since 2022.
If AI adoption occurs faster than PwC’s central forecast, then European capex would increase by just 23%, the smallest growth of any region, because Europe is already building close to its physical capacity.
The Americas' capex, on the other hand, would surge from $16.5T to $27.1T under the same scenario.
PwC’s projections are at odds with Europe's attempts to boost investment and development in the sector.
The European Commission’s Cloud and AI Development Act was proposed on June 3 as part of its EU Tech Sovereignty Package. It aims to at least triple EU data center capacity within the next five to seven years and targets the same constraints as PwC, citing the need for better access to energy and land, quicker permitting and the introduction of a single EU-wide framework.
The Dutch Data Center Association stressed that power supply has become a key restraint on digital growth, and that room for growth is now set by what is physically possible instead of demand.
The DDA notes that the Netherlands retains strong assets, and that if data centers are executed well, they could form a part of the solution to the Dutch energy system.
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