Federal Reserve Says AI Data Center Buildout Is Making Everything More Expensive: "I’m getting increasingly nervous that that’s just straight, old-fashioned overheating demand."

AI was supposed to make everything cheaper and more productive. Instead we get higher power bills, pricier computers, fewer workers building homes, and inflation. Turns out the productivity miracle is mostly Big Tech finding a remarkably efficient way to make everyone else subsidize its server farms.

Why fewer workers building homes?

I assume it’s because of all the trades required to build these mega data centres. Usually there are a lot of bonuses associated with mega projects.

Ah. But they really do not build THAT many and THAT distributed everywhere. Not even sure if the trades are really the same. Perhaps the foundation can easily be adapted across different scales. But a sparky or plumber or whatever working on homes has no idea how to make such a big/different building?