Excitement over artificial intelligence is powering a boom in what was once a small niche in the commercial real-estate business. Developers are rushing to build hundreds of data centers, especially those with the high power and cooling systems that AI servers need. Blackstone for one, has grown its data-center development pipeline to more than $15 billion from only $1 billion in two years. Investment firms such as PGIM Real Estate and IPI Partners are raising billions of dollars for data center-specific funds, according to people familiar with the matter. Tech giants such as Google, Microsoft and Amazon Web Services (AWS) have leased more than 2.3 gigawatts of capacity in North America data centers this year. That already exceeds last year’s record level. http://ow.ly/3xEf104YTo9 #ai #datacenter #chatgpt #artificialintelligence
