Download presentation slides hereAI data-centre construction remains strong: Major technology companies continue expanding capacity, despite some project delays and cancellations. Electricity is the biggest bottleneck: Grid connections, power shortages, and local opposition are slowing new data-centre developments. Behind-the-meter power is expanding: Data-centre operators are increasingly using temporary gas turbines and other onsite solutions to bypass grid delays. Hyperscaler spending is rising rapidly: Google, Microsoft, Amazon, and others are increasing capital expenditure to support strong AI-related revenue growth. Vendor financing deserves attention: Nvidia and other suppliers are helping finance customers’ purchases, creating potential circularity within the AI investment cycle.