Never has so much cash flowed into a new technology as is pouring into AI, eclipsing the sums splurged on railways or the internet when those technological revolutions sucked in capital.
Cumulative spending globally on data centers alone could top $30 trillion by 2050, according to a projection by PwC, almost matching the value of outstanding US Treasuries. It "dwarfs" what was spent in the railroad or dotcom booms, even after adjusting for inflation, PwC said.
