高盛：民主党控制的五个数据中心州或影响美国 45% 扩建计划
高盛一个月内改口，说数据中心州的政治反对可能卡住美国 45% 的扩建，Anthropic 近 9000 亿美元的算力租约正好撞上，数字很吓人。
据 FT 报道，高盛改口称民主党控制的五个数据中心州可能影响 45% 的美国计划扩建项目，一个月前其还认为政治反对不会改变 2027 年前的增长预期。Anthropic 修订后的 IPO 文件披露其算力与基础设施承诺约 8954 亿美元，其中约 4475 亿美元预计在 2030 年底前落地，而 10 月的原始文件此项留空。其中约 4510 亿美元来自尚未启用的已签租约，若出现建设冻结，受影响的是已签约的产能。高盛与 Visible Alpha 估计超大规模厂商资本开支将从 2025 年约 0.46 万亿美元升至 2026 年约 0.92 万亿美元、2027 年约 1.5 万亿美元，2030 年达约 1.75 万亿美元。
FT: Goldman Sachs now reckons Democratic control of the 5 leading data centre states could affect 45% of planned US expansion, only a month after it said political opposition had left its growth outlook through 2027 largely unchanged.
Anthropic’s amended IPO filing puts its compute and infrastructure commitments at about $895.4B, including about $447.5B expected before the end of 2030, a total the original October filing left blank.
Roughly $451B of that sits in signed leases that haven’t commenced, so a construction freeze could hold up capacity Anthropic has already contracted rather than simply protect what it holds.
Goldman and Visible Alpha estimate hyperscaler capex climbing from about $0.46T in 2025 to about $0.92T in 2026, then about $1.5T in 2027 and about $1.75T by 2030, across Alphabet, Apple, Amazon, Meta, Microsoft, Oracle, SpaceX and CoreWeave.
