October 18, 2024

Washington, D.C. (October 18, 2024) - Broadband providers continued to demonstrate their strong commitment to connecting the country to stronger and faster communications infrastructure last year, with $94.7 billion in capital investments in 2023. The figure, released today in USTelecom's annual investment report, marks the second-highest annual industry capex in more than two decades.

The 2023 company outlays build on decades of investment in world-class networks and connectivity infrastructure, which now total nearly $2.2 trillion since 1996. This strong private sector investment is fueled by intense competition that is driving a range of investments, including expansion of fiber deployments, integration of fiber and mobile networks, increased rural broadband construction, and network capacity additions to keep pace with advances in artificial intelligence and other bandwidth-intensive applications.

"There is no more powerful statement of this industry's commitment to U.S. economic growth and global competitiveness, as well as to the communities we serve than the resolve and determination reflected in this near-record investment figure," said USTelecom President and CEO Jonathan Spalter. "This level of investment demonstrates how fiercely broadband companies are competing for customers. It is critical policymakers show up as constructive partners, working side by side with our companies to finish the job of connecting communities and showing greater discipline by resisting carbon-dated regulatory models that hinder our continued progress."

USTelecom's annual investment figures reflect capex data for major wireline, wireless and cable broadband providers.