Australia’s data center boom is outpacing its mining heyday, injecting nearly $300 billion into NSW and Victoria—and economists say without it, growth could stall or shrink. Comparisons are being drawn to the railroad era, with AI-powered infrastructure poised to transform productivity, jobs, and living standards. Yet, challenges loom: U.S. communities face rising utility bills, while Australia pushes for renewable energy and water conservation to win local support. Regulators warn of hidden financial risks, as central banks scramble to keep pace with this unexpected surge. Unlike mining, data centers may not deliver the same tax windfall, and much equipment is imported—raising questions about whether this digital gold rush truly lifts the nation long-term.
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