Can Australia grab its share of the global artificial intelligence moment? I’ve just returned from two weeks in the United States meeting leaders of the world’s major cloud and AI companies. These hyperscalers are preparing to spend close to US$700 billion ($990 billion) in capital expenditure this year, yet the US market is now so constrained they’re seeing Asia as the next wave of growth.
In the last quarter alone, gigawatts of hyperscale demand were contracted to the region. To put that in context, a gigawatt costs roughly US$12 billion to US$14 billion to build, and that excludes land, GPUs and the renewable infrastructure needed to power it. In other words, it’s a Snowy Hydro 2.0– sized investment, and that’s every quarter, which is only going to grow!
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