Data Center 'Gold Rush' Drives Billions in Construction to Power AI Boom
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Data centers are seeing huge demand to host AI computing power for companies like Microsoft, Google, and Meta. ChatGPT has accelerated this "gold rush".
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Key real estate markets like Northern Virginia are booming with new data center construction, but demand is also pushing developers into new secondary markets.
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Deep-pocketed "hyperscalers" like big tech companies are spending billions to build their own AI-focused data centers globally.
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Finding land, power, and water is challenging for new developments. Some face sustainability concerns over electricity and water usage.
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Major infrastructure funds are investing billions into data centers to meet projected doubling of global capacity in 6-10 years as "AI factories".