Morgan Stanley projects $2.9 trillion in global data center spending through 2028. The artificial intelligence boom drives this massive capital expenditure.
Hyperscalers including Amazon, Microsoft, Google, and Meta will fund $1.4 trillion internally. This leaves a $1.5 trillion financing gap requiring external capital.
Private credit markets face an $800 billion opportunity to bridge the shortfall. Corporate debt and securitized products will provide the remaining funds. These infrastructure demands are currently straining traditional funding channels.