AI
US data center build hits record as AI demand surges, Bank of America Institute says
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Construction spending on US data centers reached an all-time high of $40 billion at a seasonally adjusted annual rate in June, as technology giants continue pouring billions into AI infrastructure, according to a Bank of America Institute report.
By the numbers
The June figure represents a 30% increase from the previous year, following a 50% surge in 2024, the report said, citing US Census Bureau data.
Why is it important?
The boom in generative AI and machine learning is fueling demand for computing power, prompting tech heavyweights including…
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