Hyperscale capex and capacity have risen to an all-time high in Q3 2025, according to Synergy Research Group.
Data published by the IT and cloud market analysis firm showed that capex hit a peak of $142 billion in the quarter, growing by almost 180 percent in comparison to Q3 2024.
– Synergy Research Group
IT capacity also grew 170 percent in that same period, primarily driven by demand for AI-powered services.
“Growth rates rose for data center openings, megawatts of operational capacity, data center-related capex, company revenues, and cloud-specific revenues,” said chief analyst John Dinsdale.
Synergy’s research looked at 21 global hyperscale firms, including AWS, Azure, and Google.
Dinsdale added that the firm had revised its five-year outlook, saying that it now “expects total hyperscale data center capacity to double in just over twelve quarters.”
Analysts seem to agree that data center growth will remain strong despite concerns about a potential AI bubble. Rival research firm Omdia has estimated that data center capex could hit nearly $1.6 trillion by 2030.
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