Companies Are So Desperate For Data Centers They're Leasing Them Before They're Even Built

Data center construction levels are at an all-time high. And more than ever, companies that need them have already called dibs. From a report: In the first quarter of 2024, what amounts to about half of the existing supply of data center megawattage in the US is under construction, according to real estate services firm CBRE. And 84% of that is already leased. Typically that rate had been about 50% the last few years -- already notably higher than other real estate classes. "I'm astonished and i