Goldman Sachs: U.S. data center demand will more than double by 2027 compared to 2025

On May 6, Goldman Sachs said in a report on Tuesday that as production capacity growth accelerates, power demand in data centers will rise sharply. It is expected that by 2027, its electricity consumption will more than double compared with the end of 2025, which will put pressure on the U.S. electricity market. Goldman Sachs predicts that power demand for U.S. data centers will increase from approximately 31 GW in 2025 to 41 GW in 2026 and reach 66 GW in 2027, when the proportion of data centers in total U.S. power demand will rise to approximately 8.5%. This jump in power consumption reflects a significant acceleration in the expansion of installed data center capacity. Goldman Sachs predicts that even allowing for project delays and cancellations, total U.S. data center capacity will more than double from its level at the end of 2025 to approximately 95 gigawatts by the end of 2027. Goldman Sachs said surging demand for data center power will further exacerbate tensions in the U.S. power market-many of which are already under pressure-raising the risk of rising electricity prices and challenges to power supply reliability.