Market selloff, rising rates test AI data centre deal boom

The recent market selloff and rising interest rates are testing the momentum of the AI data centre deal boom. Several major technology companies have recently signed deals to build new data centres, but the current market conditions may impact their feasibility. The deals include a $1.1 billion data centre project by Alphabet's Google, a $1 billion data centre project by Meta Platforms, and a $1.5 billion data centre project by Microsoft. The deals are expected to create thousands of construction jobs and provide a significant boost to local economies. However, the rising interest rates and market volatility may make it more expensive for the companies to finance these projects, which could impact their viability.