How Data Centre Investment Just Overtook Oil

Global investment now favours data centres over new oil supplies, reflecting the scale of electricity demand created by AI and the increasing importance of digital infrastructure to national economies.

Data Spending Overtakes Oil For The First Time

The International Energy Agency has reported that global spending on data centres will reach around 580 billion US dollars this year, overtaking the 540 billion dollars allocated to new oil supply projects. The agency described this comparison as a clear marker of how modern economies have become anchored in digital services, cloud computing and large-scale AI models, all of which require vast physical infrastructure and reliable electricity.