Data Center Stocks in 2025: AI Capex Forecasts, Power Constraints, and the 2026 Outlook (Dec. 25, 2025)
U.S. markets are closed for Christmas after an early close on December 24. Microsoft plans a $400 million data center near San Antonio, with completion expected by 2028, according to local reports. Goldman Sachs projects AI companies may invest over $500 billion in 2026, as power demand from data centers drives new records, per the U.S. Energy Information Administration.