Construction spending on U.S. data centers reached an all-time high of $40 billion at a seasonally adjusted annual rate in June, as technology giants continue pouring billions into AI infrastructure, according to a Bank of America Institute report. BY THE NUMBERS The June figure represents a 30 per cent increase from the previous year, following a 50 per cent surge in 2024, the report said, citing U.S. Census Bureau data. WHY IT'S IMPORTANT