"The global investment spree in artificial intelligence is producing some remarkable numbers and a projected $3tn (2.3tn) spend on datacentres is one of them. These vast warehouses are the central nervous system of AI tools such as OpenAI's ChatGPT and Google's Veo 3, underpinning the training and operation of a technology into which investors have poured vast sums of money. Despite concerns that the AI boom could be a bubble waiting to burst, there are few signs of it at the moment."
"The Silicon Valley AI chipmaker Nvidia last week became the world's first $5tn company and Microsoft and Apple's valuations hit $4tn, the latter for the first time. A restructuring at OpenAI has valued the company at $500bn and a stake owned by Microsoft at more than $100bn. This could lead to a $1tn flotation as early as next year."
"It is not just the financial world, politicians and tech companies who have faith in AI: it is also the communities hosting the infrastructure behind it. In the 19th century, demand for coal and steel from the Industrial Revolution shaped the destiny of Newport. Now the Welsh city is hoping for a new chapter of growth from the latest transformation of the global economy."
"On the outskirts of Newport, on the site of a former radiator factory, Microsoft is building a datacentre that will help meet what the tech industry hopes will be exponential demand for AI. Microsoft is building a datacentre at Imperial Park, near Newport, Wales. Photograph: Dimitris Legakis/Athena Pictures Standing on a concrete floor that will soon host thousands of humming servers, the Labour leader of Newport city council, Dimitri Batrouni, says the Imperial Park datacentre is a chance to tap into the economy of the future."
Global investment in artificial intelligence is driving a projected $3tn spend on datacentres that power AI tools such as OpenAI's ChatGPT and Google's Veo 3. Investors have poured vast sums into the technology, lifting company valuations: Nvidia reached $5tn, Microsoft and Apple hit $4tn, and OpenAI's restructuring valued it at $500bn with Microsoft's stake above $100bn potentially enabling a $1tn flotation. Alphabet reported a $100bn quarterly revenue driven by AI infrastructure demand, while Apple and Amazon posted strong results. Local communities are embracing datacentre projects as economic renewal, with Microsoft building a new facility at Imperial Park, Newport.
Read at www.theguardian.com
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