But here’s where things get interesting and risky. The returns aren’t guaranteed. The economics of these centers are brutal: they need sustained demand and high use to justify the upfront cost; otherwise, they become income-producing white elephants.

Meanwhile, the soaring demand for computing power is placing tremendous stress on energy grids, pushing data centers into regions eager to offer cheap power and lax oversight. A recent MIT report indicated that 95% of organizations are getting zero return from generative AI projects.