Nowhere is this more pronounced than in Asia Pacific (Apac). Cushman & Wakefield's latest data shows the region's data centre development pipeline reached a record 19.4GW in 2025 - with 3.7GW already breaking ground across markets like Johor and Singapore. It is the largest build-out in the region's history, and that scale of investment is not just a growth story; it is an energy story.
When Singapore invokes the spectre of stagflation, the region pays attention. The global fuel crisis has forced a reckoning: energy constraints are no longer temporary disruptions, but a permanent business reality. The broader economy, like the data centre industry, is learning fast that energy is neither guaranteed nor cheap.
Whether one invokes Moore's Law or Jevons Paradox, one thing is clear - demand is relentless, and AI is its most powerful accelerant. This growth has now collided with a supply shock, fundamentally changing how the industry must plan for energy.
