Data Centers Hit Record $96.5 Billion Pace

US data center construction spending hit a record seasonally adjusted annual rate of $96.5 billion in September, the Census Bureau reported, up roughly 90% from $50.7 billion a year earlier. Conventional office construction, by contrast, ran at just $46.0 billion, down about 8% from a year ago. The AI buildout now dwarfs traditional office building inside the same spending category, a split with no historical precedent since the series began in 2014. $NVDA sits at the center of that buildout.