Market Report
US data center pipeline: Q3 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 mid-October 2025. The master planned pipeline has reached 245 GW, ranging from individual data center buildings to multi-gigawatt campuses. The report is divided out into sections on bottoms-up project capacity, top-down utility demand, project capex, power supply, and cooling technology. Capacity and cost are broken out by state and developer, with notable projects highlighted. Detailed coverage is provided on onsite generation by generation technology.
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