Bernstein's Q2 2026 AI tracker projects the global server market will top $1 trillion by 2028, as the investment bank raises its shipment and spending forecasts across the AI hardware supply chain. GPU AI servers grow faster than the broader market, and both Nvidia and AMD are expected to ship new hardware later this year.
Server shipments accelerate through 2028
Total server shipments are set to grow at a 15% compound annual growth rate through 2028. GPU AI servers expand faster, at a 22% CAGR over the same period. The 8-GPU equivalent server category shows particularly sharp growth. Bernstein expects shipments to jump 48% in 2026 alone. Rack shipments are forecast at 61,000 units this year, climbing to 88,000 units in 2027.
Data center spending tops $1.2 trillion
Total planned and in-construction data center investment now sits at approximately $1.2 trillion. Cloud provider capex estimates have climbed roughly 15%, reaching about $1.1 trillion slated for 2027. On the chip side, ASICs are projected to represent about 45% of all CoWoS-based AI chip shipments. Google's TPU shipments alone are expected to grow approximately 90% year-over-year in 2026.
Big tech commits billions
Meta's Hyperion project has ballooned to $50 billion, up from $27 billion when it was announced in November 2025. SoftBank has committed up to $85 billion for 5 gigawatts of data center capacity in France. Nvidia and AMD are both expected to ship new hardware in Q4 2026.
Source: Crypto Briefing
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