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And in this week’s edition, we explore the physical reality behind the AI boom, specifically the 2,500% increase in data centre construction spend, and contrast it with the regulatory crackdown halting Temu's global expansion.

We also analyse the "Inflation Divergence" of the last 25 years to understand why technology prices have collapsed while the cost of essential services has nearly tripled.

Now, let’s dive into the insights.

— Insights Team, Rwazi

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For a decade, data center construction was a steady, flat line. In early 2014, U.S. data center construction ran at an annualised rate of roughly $1.6 billion. That era is definitely over.

By July 2025, that number reached approximately $41.0 billion, showing a big shift in capital allocation toward physical digital infrastructure.

The implications extend far beyond concrete and steel because the AI boom is triggering an even bigger demand shock for raw materials, specifically copper.

A typical data centre now requires roughly 27 metric tons of copper per megawatt of capacity for power, cabling, and cooling. BHP projects that global copper usage in data centres will increase by around 6x from 2025 to 2050, rising from 0.5 million tonnes a year to around 3 million tonnes.