Australian investment into the data centres used to power the global rollout of artificial intelligence doubled in the September quarter, driving the largest increase in business investment in four years, which economists say is required to fix the government’s productivity problem.
Investment in machinery and equipment by IT firms – which includes the routers, cooling towers and servers used to build data centres – broke its previous record of $1.4 billion last quarter, doubling to $2.8 billion in the September quarter.
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