“How much compute and how many data centers are needed depends on the returns firms are able to generate with that compute. So far, the AI payoff for firms has been slow to materialize, implying a growing reluctance to pay for AI services.”

Torsten Slok · said 2026-10-20 · reported 2026-10-24

Slok explained that data-center demand depends on the returns firms can generate with compute, which has so far been slow to materialize.