Digital infrastructure research

Hyperscaler AI-related capital expenditures (capex) are accelerating rapidly, growing from an estimated $235 billion in 2024 to a projected $700+ billion in 2026.

• artificial intelligence

Capital expenditures on AI are exploding, and they are creating real shareholder value. The artificial intelligence spending cycle is not over. In fact, it may be accelerating based on feedback from the AI infrastructure ecosystem.

• artificial intelligence

CoBank experts Jeff Johnston and Teri Viswanath outline the details behind key issues they’re watching in 2026.

• data center

The capital rushing into the data center market to fuel the rise of artificial intelligence is nothing short of historic. Last year, the four hyperscalers—Meta, Microsoft, Amazon and Google—poured an estimated $235 billion into capital expenditures. This year, that figure is expected to exceed $400 billion.

• artificial intelligence
• data center

Broadband M&A activity has accelerated in 2025, driven by lower interest rates, improved economic certainty and renewed strategic interest.

• broadband
• m&a

Bundling smartphone and home broadband services

• broadband
• wireless

Teri Viswanath, CoBank’s lead economist for power, energy and water, recently interviewed Casey Werth, the global leader of the energy industry at IBM.

• artificial intelligence
• utilities

Mindful that many U.S. electric cooperatives have recently been approached to serve new data centers over the past six months

• data center

Data centers are the foundation of a digital economy but powering them is this decade’s challenge.

• data center
• nuclear

All eyes in the utility and data center worlds are on Ohio, as a precedent-setting electricity rate proposal from AEP plays out in the next few weeks.

• data center
• electricity
• grid

Though valuations for privately owned broadband providers have remained relatively flat over the last 12 to18 months and below levels two or three years ago, overall investor and strategic buyer interest in the private broadband market remains strong.

• broadband
• m&a

A new age of electricity growth is here. Data center demand growth is the most visible sign of the changing times, testing the ability of utility suppliers to keep pace.

• data center
• electricity
• grid