The data center sector is seeing rapid growth, with projections to double capacity by 2030. JLL forecasts AI workloads will make up half of all data center capacity by then. Digital Realty CEO Andy Power believes the sector is not overbuilt, citing real demand from customers with long-term contracts. The sector may require up to $3 trillion in investment over the next five years, according to JLL. Hyperscalers are investing heavily in data centers, reshaping the industry. Oracle’s involvement in data center deals has raised concerns about creditworthiness. Power emphasizes the importance of location in data center investments and notes that companies like Oracle have strong businesses outside of AI.

Read more at CNBC

1. Apple unveils new iPhone 13 with improved battery life and camera features. The tech giant also announces updates to its iPad and Apple Watch models during their annual product launch event.

2. The Federal Reserve signals plans to start tapering its bond-buying program later this year. Chair Jerome Powell also hints at potential interest rate hikes in 2022 as the central bank aims to combat inflation.

3. Tesla shares surge after the electric car maker reports record quarterly revenue and profits. Despite supply chain challenges and chip shortages, Tesla exceeds expectations with strong sales numbers in key markets.

4. Facebook faces backlash over its handling of misinformation on the platform. Critics argue that the social media giant is not doing enough to combat the spread of false information, particularly regarding COVID-19 and vaccines.: Data center REIT CEO Andy Power: Real estate not oversupplied