From the NYT: “The torrential wave of data center construction for artificial intelligence has seemed unstoppable. Unconstrained by interest rates or labor costs, the biggest tech companies in the world are pouring trillions of dollars into land, electronics and new power plants. A.I. spending is now a meaningful share of American economic growth and the wind at the stock market’s back.
“But lately, zoning commissions and county councils across the country have been resisting. Unnerved by the data centers’ voracious electricity demands and sprawling footprints, they are denying permits and withdrawing tax breaks at a rate that is forcing companies like Google, Microsoft and Meta to take a different tack.
“And Wall Street, which has ridden high on those valuations, is starting to raise some eyebrows.”
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