I really get the feeling that the economy is being artificially propped up at the moment and the key event I suspect they're being propped up for is the midterm elections. Post election, I feel like the cracks will start to show and we'll start to get a correction which will lead to a crash, similar in size to 2008.
That's just my feeling and it isn't necessarily backed on too much but significant amounts of resources have been poured into "AI" and I really don't feel the payoffs are going to pan out. Once that becomes the mainstream view, everything built around it crumbles.
Wait... the data centers have frickin cooling ponds and towers now or something? Good grief...
Why would that be a bad thing compared to them just dumping their water into the sewer system?
The traditional way to water cool electronics is with a closed loop and a radiator, like a car, or a large HVAC system. It doesn't evaporate or get dumped in a sewer, it gets continually reused for a year or more, just like a car. As far as I know, all pre crypto/AI boom civilian data centers were either air cooled(overwhelming the most common, sometimes with a central system of high static pressure fans), HVAC cooled, or closed loop water cooled(and that was darn rare before crypto).
An open loop would be more like a nuclear plant. Dumping it in the sewer would also be an even less efficient open loop.