U.S. economy hits pivotal milestone: Spending on data centers and other information-processing hardware now exceeds housing investment

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Two decades after the housing boom reshaped, then tanked, the U.S. economy, the AI boom is similarly transforming the drivers of growth.

Hyperscalers have poured so much money into building as much AI infrastructure as possible—and as quickly as possible—that investment from a handful of companies is expected to reach $1 trillion a year soon.