US data center build hits record as AI demand surges, Bank of America Institute says

The boom in generative AI and machine learning is fueling demand for computing power, prompting tech heavyweights including Microsoft, Alphabet and Amazon.com investing billions in setting up the infrastructure. These hyperscalers have been spending billions to scale their operations to support AI workloads, creating a windfall for semiconductor companies like Nvidia , which supplies chips used in data centers and derives the bulk of its revenue from such sales.