It's weird though: everybody wants to be seen to be building data centers but nobody is actually willing to put down the money to do this (except Oracle and I think it's universally agreed they're probably going to be destroyed by this). Half of the deals announced to begin in 2025 still haven't started yet, and that's with a very generous definition of "started" that basically just means "broke ground". Now some of that is an unexpected wave of populist datacenter opposition gumming the works (though I would argue that should have been expected and mitigated), but a lot of it is just a plain old lack of steel, engineers, and power, which are things everybody knew about before these deals got inked.