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Lex in depth: Will the AI data centre boom become a $9tn bust?
AI数据中心热潮会沦为一场9万亿美元的泡沫吗?

The biggest groups splashing their cash may not make their money back, but will almost certainly live to tell the tale
砸下重金的那些巨头未必收回成本,但几乎可以肯定的是,他们终将安然过关、还有机会讲述这段经历。

Every so often, the human race comes down with building fever. Investors’ temperatures soar, lavish projections of future demand go viral and spending swells. Once the fever breaks, there comes a long and painful convalescence.

人类社会不时会染上“建设热”。投资者热度飙升,对未来需求的奢华预测像病毒般蔓延,支出随之激增。一旦热潮退去,迎来的往往是漫长而痛苦的恢复期。

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