My latest opinion piece for Reuters is out today. In it, I focus on the rising costs of building 1GW of data centre capacity and compare it to the expected annual revenue from 1GW of compute. and let me tell you, the numbers don’t look good at all…
LONDON, Aug 5 (Reuters) - U.S. corporate earnings are already running almost 60% above trend, with rapid growth still expected for years, mostly thanks to the AI boom. But the questionable economics of new AI data centres could pop this bubble, sending earnings tumbling back toward their long-term average – generating significant losses for investors along the way.
Read the full piece here (paywall): https://www.reuters.com/commentary/reuters-open-interest/data-centre-reality-check-could-slam-brakes-ai-earnings-boom-joachim-klement-2026-08-05/
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