Introduction
As we approach 2026, it’s crucial to address the economic challenges facing Mexico and the world, particularly focusing on concerns raised by analysts regarding the rapid investment in artificial intelligence (AI) infrastructure, specifically data centers.
Tech Giants’ Investment Shift
Until 2025, major tech companies like Meta, Google, Amazon, and Oracle financed their investment plans through operational cash flow. These companies consistently demonstrated strong financial health, with minimal debt levels, primarily because they hadn’t invested heavily in infrastructure. Their focus was on research and development, as well as marketing.
However, the landscape is changing. All these companies, along with new entrants like OpenAI, now require massive data processing and storage capabilities. Consequently, they’ve started allocating substantial resources to this type of infrastructure.
Bond Market Activity in 2025
In the latter half of 2025, new players entered the bond issuance markets. Between September and December of the previous year, Meta issued $30 billion, Alphabet (Google) issued $25 billion, Oracle issued $18 billion, and Amazon issued $15 billion. In just four months, these four companies raised a total of $88 billion through bond issuance.
While this amount isn’t concerning on its own, there’s apprehension that in the near future, constant technological advancements might lead to exponential improvements in mobile device processing capabilities. This could result in the massive investments in computing equipment, data center installations, and cooling energy becoming less necessary than initially anticipated.
Historical Context and Future Implications
Such shifts have occurred in industrial history, where technological changes dramatically altered expectations. The current AI infrastructure boom should not be dismissed outright, especially considering the potential financial impacts.
It’s estimated that between 2025 and 2028, around $3 trillion will be invested globally, with approximately $450 billion coming from major tech companies via bond issuance.
These investments, largely occurring in the US, will enable the country to further widen its productivity gap compared to other economies. For instance, between 2019 and 2024, labor productivity in the US increased by 10 percentage points, while Europe saw little change. Meanwhile, Mexico experienced a 3.5 percentage point decrease.
Investment in Mexico’s Data Centers
It’s essential to consider the investments in Mexico’s data center infrastructure, as this will give us insight into our direction.
Additional Topic: Regulation of Media Audiences’ Rights
Question: Is the president genuinely aiming to regulate the rights of media audiences that don’t require state concessions? Answer: The legal framework for such regulation needs to be examined more thoroughly.
*The author is an economist.
