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Global AI Infrastructure

The AI build-out is a capex and power story: Microsoft added $115,948 million of property and equipment in the year to June 2026 (SEC filing), and data centre projects in Great Britain's grid connection queue totalled 73 GW in June 2025 (Ofgem).

20 verified facts tracked for this market — each with its source, reporting period and evidence tier. Tier 1 = primary institutions (central banks, statistical offices); tier 2 = disclosed industry panels.

MetricValueGeoPeriodTierSource
Combined value of United States venture rounds of USD 1 billion or more in the quarter87.2USD billionUS2026-Q2T1nvca.org
First-time venture financings, United States5674dealsUS2026-H1T1nvca.org
Median pre-money valuation at Series A, AI companies83.0USD millionUS2026-H1T1nvca.org
AI venture deal value, United States355.9USD billionUS2026-H1T1nvca.org
Median pre-money valuation at Series B, AI companies267.0USD millionUS2026-H1T1nvca.org
Grid capacity brought forward by connections reform, Great Britain (average acceleration six years)7.8GWGB2026-07T1ofgem.gov.uk
Small 0-10 MW: number of data centre projects in the connection queue, Great Britain11projectsGB2026-07T1ofgem.gov.uk
Securities held at connection offer acceptance as a share of data centre project capex, Great Britain0.2percent of total capexGB2026-07T1ofgem.gov.uk
Weighted average cost of capital of data centre projects, Great Britain10.95percentGB2026-07T1ofgem.gov.uk
Share of consultation respondents in favour of a data centre commitment fee, Great Britain63percent of respondentsGB2026-07T1ofgem.gov.uk
Implied total capital expenditure of the Great Britain data centre connection pipeline693GBP billionGB2026-07T1ofgem.gov.uk
Large 50-100 MW: mean capital cost per MW of building a data centre, Great Britain12571109GBP per MWGB2026-04T1ofgem.gov.uk
Excess generation and storage capacity deprioritised from the connection queue, Great Britain300GWGB2026-02T1gov.uk
Investment secured or safeguarded by the government grid-connection triage service, Great Britain35GBP billionGB2026-02T1gov.uk
Computers and semiconductors as a share of US goods imports16percentUS2026T1federalreserve.gov
Samsung and SK Hynix combined share of global DRAM supply70percentGlobal2026T1federalreserve.gov
Microsoft: additions to property and equipment, fiscal year (ends 30 June)115948USD millionglobal2025-07..2026-06T1sec.gov
Great Britain: contracted demand in the electricity connection queue125GWGB2025-06T1ofgem.gov.uk
Data centre projects in the electricity connection queue, Great Britain73GWGB2025-06T1ofgem.gov.uk
Share of first-time-financed non-AI companies that raised a second VC round6.9percentUS2025 cohortT1nvca.org

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