Why Most of AI's Promised Data Centers Don't Exist

The AI industry's explosive growth narrative depends on infrastructure that doesn't actually exist: while 241 GW of data center capacity has been announced, only a third is under genuine development, and most faces insurmountable power constraints. With 58% of planned facilities lacking secured electricity and major grid operators already at maximum capacity, the physical reality cannot support the ambitions being promoted, meaning many high-profile AI projects will remain vaporware.