Summary of US Data Centers: Rapid Growth and Sustained Concentration Industry Overview - The report focuses on the US data center industry, highlighting rapid capacity growth and market concentration in established regions while new markets are emerging [1][4]. Key Insights - **Capacity Growth**: US data center capacity is projected to reach 46 GW by the end of October 2025, marking a 37% year-over-year increase [4][14]. - **State Concentration**: Of the 12.4 GW of new capacity added year-to-date, 7.6 GW is concentrated in the top five states: Virginia, Texas, Oregon, Ohio, and Iowa. Virginia leads with a 33% year-over-year growth, while Texas and Georgia show even faster growth rates of 57% [4][9]. - **Emerging Markets**: Data centers are expanding into 31 states year-to-date, up from 22 states in 2024, although the scale of additions in newer markets remains modest [4]. - **Power Availability**: Power availability is a more significant driver for data center expansions compared to time-to-client metrics. The PJM, ERCOT, and Southeast regions account for 64% of the year-over-year capacity additions [4][5][11]. - **Future Projections**: An additional 4 GW of capacity is expected to be added by year-end, with 63 GW of new projects announced for future development [4]. Competitive Landscape - **Regional Competitiveness**: The competitiveness scores indicate that regions with better power availability are more attractive for data center investments. The report suggests that several large power markets, including CAISO, MISO, and PJM, may face critical tightness due to rapid data center growth [5][11]. - **State Performance**: Texas and Georgia are emerging as highly competitive states for data center development, driven by their quick time-to-client and abundant power availability [4][15]. Additional Insights - **Data Center Capacity by Region**: The report provides detailed data on capacity and growth rates across various regions, indicating that PJM has the highest capacity at 18.8 GW with a 44% year-over-year growth [17]. - **Power Market Analysis**: The analysis of power market competitiveness shows that regions with lower power availability have experienced slower data center capacity expansion [17]. This summary encapsulates the critical aspects of the US data center industry as discussed in the report, providing insights into growth trends, competitive dynamics, and future projections.

Summary of US Data Centers: Rapid Growth and Sustained Concentration Industry Overview - The report focuses on the data center industry in the United States, highlighting rapid capacity growth and market concentration in established regions while also noting the emergence of new markets [1][4]. Key Insights - **Capacity Growth**: US data center capacity is projected to reach **46 GW** by the end of October 2025, reflecting a **37% year-over-year increase** [4][14]. - **State Concentration**: Of the **12.4 GW** of new data center capacity added year-to-date, **7.6 GW** (approximately **61%**) is concentrated in the top five states: Virginia, Texas, Oregon, Ohio, and Iowa [4][9]. - **Virginia's Dominance**: Virginia remains the largest market with a **33% year-over-year growth**, while Texas and Georgia are expanding even faster, both showing a **57% year-over-year growth** as of October 2025 [4][14]. - **Emerging Markets**: Data centers are expanding into **31 states** year-to-date, up from **22 states** in 2024, although the scale of additions in newer markets is still modest [4][14]. - **Power Availability**: In regional power markets, power availability has been a more significant driver of data center expansions than time-to-client [4][11]. The PJM, ERCOT, and Southeast regions account for **64%** of the year-over-year US data center capacity additions [4][5]. Future Projections - An additional **4 GW** of data center capacity is expected to be added in the US by year-end, primarily in leading states, with another **63 GW** of new projects announced for development over the next few years [4][6]. Competitive Landscape - The report indicates that several large power markets, including **CAISO (California)**, **MISO (Mid-Continent)**, and **PJM (Mid-Atlantic)**, are likely to become critically tight due to rapid data center growth [5][4]. Additional Insights - The competitiveness scores for data centers are based on various factors, including data-intensive GDP, data center capacity in 2025, peak summer effective spare capacity, and long-distance power transmission infrastructure [2][13]. - The report emphasizes that the data center industry's growth is heavily influenced by regions that offer quick time-to-client and abundant power availability, with Texas and Georgia emerging as highly competitive states [4][15]. Conclusion - The US data center industry is experiencing significant growth, driven by established markets and emerging regions, with power availability being a critical factor in location choice. The competitive landscape is evolving, with potential tightness in major power markets anticipated in the near future [4][5][6].