Wall Street Questions the Data Center Boom's Staying Power
Source: NYT > Business (paywall)
IPO pullbacks show investors demanding actual AI workload revenue from data centers, not speculative capacity bets on hyperscaler demand. The last 18 months saw unlimited capital flow to warehouse-scale buildouts on the assumption that LLM compute requires proportional physical infrastructure. That assumption is being repriced. Infrastructure expansion timelines could slow, and builders will face pressure to compete on unit economics and location advantage rather than pure availability.