Market Report
US data center pipeline: Q2 2025
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Report summary
This report covers the pipeline of US data center projects with planning, permitting, construction, or commissioning activity between January, 2023 and April, 2025. Wood Mackenzie's pipeline reached 125 GW by the end of Q1 2025, ranging from individual data center buildings to multi-gigawatt campuses. Power demand, cost, co-located generation, and cooling technology are explored, broken out by state and developer and illustrated by notable projects. Key policy and regulatory trends are also presented.
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