Goldman Sachs: Local Backlash Unlikely to Slow U.S. AI Data-Center Buildout Through 2027

Goldman Sachs expects U.S. data-center expansion to proceed largely on schedule through 2027 despite intensifying political and community pushback. Strategist Laura Cyr lifted the bank’s year-end 2026 capacity forecast by 5 GW to 64 GW and trimmed the 2027 view by 5 GW to 90 GW, projecting power demand growth of 38% in both 2026 and 2027 on a December-to-December basis. The stance comes as Texas Governor Greg Abbott ordered a pause on new data-center permits pending ERCOT and water-board audits, and polling shows voter sentiment turning negative on local projects. Separate research from BofA highlights mounting resource strains: most water tied to data centers is consumed off-site at power plants, GPU server electricity needs are climbing about 30% annually, and each incremental megawatt embeds 60–75 tons of metals, chiefly copper.

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