Data center deal value had already topped the full-year 2024 total of just under $61 billion during the first 11 months of 2025, according to an ITPro report citing S&P Global Market Intelligence. A later S&P retrospective put 2025 deal value at about $70 billion. These are not confirmed as directly comparable totals: the sources do not reconcile their cutoff dates, definitions, or transaction coverage.
What the $61 billion figure measures
The December 22, 2025, ITPro report describes the combined value of data center mergers and acquisitions, asset sales, and equity investments. It says more than 100 transactions in the first 11 months of 2025 had already exceeded the just-under-$61-billion total recorded for all of 2024. That is a measure of deal activity and asset ownership changes—not simply money spent constructing facilities, nor data center operators’ capital expenditure. ITPro’s report does not provide a precise final 2025 figure in that interim comparison.
Was $61 billion the final 2025 total?
No. The headline was an interim report published in December 2025, comparing 11 months of activity with the prior full year. In a later retrospective, S&P Global Market Intelligence research associate Iuri Struta described 2025 deal value as about $70 billion. He identified the planned acquisition of Aligned Data Centers for $40 billion as a major contributor. S&P’s transcript also notes that a market can record fewer transactions but higher total value when the assets being traded become more expensive. S&P’s retrospective transcript does not reconcile its approximate figure with ITPro’s earlier comparison, so the two should be presented as different reports rather than exact, like-for-like measurements.
How 2025 fits the recent deal history
S&P Global Market Intelligence reported in January 2025 that data center transaction value exceeded $34.44 billion in 2024, approaching the prior record of $38.54 billion set in 2021. That historical measure covered M&A and investment rounds. The 2025 ITPro comparison describes M&A, asset sales, and equity investments, so the category descriptions are not identical. S&P’s 2024 transaction summary provides context for the surge, but it does not make the different measures interchangeable.
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What is driving data center investment?
Hyperscaler expansion
ITPro reports that major cloud providers are building new facilities while also seeking outside capital. Iuri Struta, identified by ITPro as an S&P Global senior research associate, said: “The number of data centers being built by hyperscalers nearly doubled in 2024 from a post-pandemic low, while their total utility power more than doubled, according to 451 Research data,” That points to both a greater build-out and a sharp rise in power demand, though the statement concerns hyperscaler activity in 2024 rather than a count of 2025 transactions.
Private equity and debt financing
The December report also names private equity interest and increased debt financing as drivers. In practical terms, deal activity can involve financial sponsors and lenders alongside operators building capacity; it is not limited to a company funding a new site from its own balance sheet. The reported figures capture transactions and investments, not a breakdown of every project’s financing mix.
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Regional activity
ITPro reports cumulative deal value since 2019 of about $160 billion in the United States and Canada, nearly $40 billion in Asia-Pacific, and $24.2 billion in Europe. These are multiyear totals, not 2025-only amounts. The report says the US led deal value over the preceding two years. Wim Steenbakkers, managing director at investment relations firm ING, told ITPro: “We do see a trend where the US has taken a lead, with Middle East growth eclipsing Europe at the moment.”
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Deal value is not the same as projected construction need
ITPro relays a McKinsey estimate that meeting global data center needs by 2030 could require $6.7 trillion in capital: $5.2 trillion for AI-capable facilities and $1.5 trillion for traditional IT applications. These are projected capital requirements, not investment already completed, and they are broader than the transaction-value figures reported for 2024 or 2025. The scale of the forecast helps explain why financing and asset transactions are drawing attention, but it should not be added to deal totals as though it were realized spending.
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What this means for personal-finance readers
The headline is evidence of a large and active market in data center assets and financing, not a direct measure of returns available to individual investors or a signal that a particular stock, fund, or private offering is suitable. The reported totals combine transactions across companies and asset types; they do not establish the profitability of individual facilities, the terms available to retail investors, or whether valuations will hold. Readers considering an investment should assess the specific security, fees, liquidity, concentration, and risk disclosures rather than treating aggregate deal value as a performance forecast.
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