By Robin Khuda
Publication Date: 2026-03-02 01:00:00
Can Australia capture its share of the global artificial intelligence moment? I just returned from a two-week stay in the United States where I met executives from the world’s largest cloud and AI companies. These hyperscalers are preparing to spend nearly $700 billion ($990 billion) in capital spending this year, but the U.S. market has become so constrained that they see Asia as the next wave of growth.
Gigawatts of hyperscale demand were contracted to the region in the last quarter alone. To put that in context, a gigawatt costs about $12 billion to $14 billion to build, and that excludes land, GPUs, and the renewable infrastructure required to operate it. In other words, it’s an investment the size of Snowy Hydro 2.0, every quarter, that will only grow!
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