"Blackstone's plan to launch a public acquisition vehicle for AI data centers is designed to generate exit liquidity for its institutional builds rather than offer a ground-floor opportunity for retail investors."

"The thesis argues that the data center boom is entering a selective phase where developers are abandoning speculative mega-projects due to rising financing costs and local hurdles."

"Jim Chanos argues that NeoClouds, data center developers, and Bitcoin miners are inherently unprofitable business models with single-digit returns on capital."