AXIOS December 26, 2024
Big Tech is spending at a rate that’s never been seen, sparking boom times for companies scrambling to facilitate the AI build-out.
Why it matters: AI is changing the economy, but not in the way most people assume.
- AI needs facilities and machines and power, and all of that has, in turn, fueled its own new spending involving real estate, building materials, semiconductors and energy.
- Energy providers have seen a huge boost in particular, because data centers require as much power as a small city.
- “Some of the greatest shifts in history are happening in certain industries,” Stephan Feldgoise, co-head of M&A for Goldman Sachs, tells Axios. “You have this whole convergence of tech, semiconductors, data centers, hyperscalers and...
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