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The data center industry is experiencing an unprecedented boom, with demand skyrocketing due to the explosive growth of artificial intelligence (AI) and cloud computing. Recent reports highlight this trend, with data center vacancy rates hitting record lows of 2.8%, driving up prices. This insatiable appetite for data center capacity is reshaping the industry at breakneck speed.
Major tech players are making significant moves to support this growth. In September 2024, Microsoft (MSFT) and BlackRock (BLK) announced a $30 billion fund aimed at boosting AI data centers, underscoring massive capital inflows.