Data centres and the new capital cycle
ANALYSIS: Will the flood of money now pouring into the sector still earn adequate returns once competition intensifies and the economics of AI become clearer?
Tobias Newton
Tue, 21 Apr 2026
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
If AI is the new industrial revolution, data centres are the factories.
It is never easy to know when a boom has gone too far. But that is usually when things become most interesting.
Few parts of the market capture that tension better than data centres. The sector sits at the intersection of AI
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Tobias Newton
Tue, 21 Apr 2026
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
