China is pulling ahead of the rest of the world in sinking data centers that power AI into the ocean as an alternate way to keep them cool

Elon Musk's xAI is in discussions to lease data center capacity in Saudi Arabia, Bloomberg News reported on Wednesday, as part of an effort to expand its infrastructure in regions offering cheap energy and political goodwill.

CoreWeave, which rents out access to Nvidia AI chips, has been on a tear since it went public at the end of March.

Data center operators in China, which use Nvidia’s H20 chips to crunch data for various AI services, have been struggling to find a local alternative that is as good as the U.S. company’s chips.

National and state political leaders are rushing to regulate and incentivize the rapidly growing data center industry.

A project near Carlisle was the 2nd largest out of 18 projects discussed at a major energy conference Tuesday attended by President Trump and Gov. Shapiro.

The MEA region is experiencing significant growth in its data center market. As of 2024, the market was valued at approximately USD $8.63 billion and is projected to reach USD $19.89 billion by 2030, growing at a CAGR of 14.93%.

Asset management firm Blackstone will announce on Tuesday a $25 billion investment in data centers and energy infrastructure in Pennsylvania, Chief Operating Officer Jon Gray said at a panel at the Energy and Innovation Summit in Pittsburgh.