Investment in Artificial Intelligence (AI) infrastructure is becoming increasingly concentrated in a small number of large semiconductor and data-centre projects, with several multibillion-dollar announcements shaping global investment trends even as broader greenfield activity weakens.
In the United States, more than 40% of the total value of announced greenfield projects in the first half of 2026 was concentrated in AI-related sectors, particularly semiconductors, valued at about $80 billion, and data centres, at $9.5 billion, according to the United Nations Conference on Trade and Development (UNCTAD).
The concentration is reflected in the scale of individual projects. Taiwan Semiconductor Manufacturing Company announced a further $76.5 billion expansion in the United States, in addition to the $100 billion investment it announced in 2025.
Other major announcements included Japan’s SoftBank Group committing $49 billion to AI-related data centres in France, Micron Technology’s $24 billion semiconductor investment in Singapore, and Meta’s $9.7 billion data-centre project in Canada. Dutch company Nebius also announced an $8.7 billion data-centre investment in France.
The projects feature among the largest greenfield investments announced in the first seven months of 2026, highlighting the growing influence of digital infrastructure on the value of international investment commitments.
The trend contrasts with a wider slowdown in new investment announcements. Globally, the value of greenfield projects fell 10% in the first half of 2026, while the number of announced projects declined 15%, according to UNCTAD.
Investment in global value chain-intensive industries, including electronics, automotive, textiles and machinery, recorded a 27% increase in value, but the number of projects fell 4%. Semiconductor investment was a major contributor, with announced project value rising 52% and project numbers increasing 15% on an annualised basis.
However, the expansion in high-value projects has not translated into a broad recovery in digital infrastructure announcements. Investment in information and communication technology, particularly data centres, slowed after the high levels recorded in 2025. The value of projects in the sector fell by $40 billion, or 18%, while the number of announcements declined 19%.
UNCTAD said major capital expenditures for large-scale data centres are increasingly being financed through project finance rather than greenfield investments funded directly by individual multinational companies.
Developing economies are also experiencing a shift in the distribution of digital infrastructure investment. The value of announced greenfield projects in these markets fell 9%, largely due to a $32 billion decline in announced data-centre investment compared with the same period in 2025.
The report said this points to a further concentration of digital infrastructure investment in high-income developing economies, continuing a trend identified in its 2026 World Investment Report.
UNCTAD’s findings suggest that large-scale investments in semiconductors and digital infrastructure are helping sustain the value of global investment commitments, despite a decline in the number of new projects. The agency expects high-value projects in digital infrastructure and other strategic sectors to continue supporting foreign direct investment flows, although geopolitical tensions, higher borrowing costs and energy-price pressures are weighing on new investment announcements.
