In Essex, just outside London, data centre operator Nscale is set to construct a £2 billion ($3.8 billion) flagship facility. The site is strategically located across the road from the Bank of England’s banknote printing facility, a location rich in symbolism for the booming AI-driven data centre industry.
The project reflects the recent surge in demand for artificial intelligence, which has fueled a perception that data centres are akin to a license to print money. Josh Payne, Nscale’s owner and a former Hunter Valley coal miner, stands to benefit from this trend.
The article was written by Andrew Tillett, Europe correspondent for The Australian Financial Review, who highlights the broader implications of the data centre boom and the economic shifts it represents.