The truth about Australia's tech bet | Daily Mail
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The Albanese government has embraced the extraordinary expansion of data centres as evidence that an artificial intelligence revolution will ride to the rescue of Australia's weak economy. More than $130 billion is slated for data centres and supporting infrastructure by the end of the decade. It sounds transformational, but look beyond the headlines and the economic payoff is vastly smaller than promised. Goldman Sachs estimates all the construction will add just 0.3 percentage points to GDP growth, before actually becoming a drag as the build-out slows down. Across the entire time, it amounts to roughly 1 per cent of GDP. To put the paltry benefit in context, at its height, mining investment reached 7 per cent of GDP. Full story: https://www.dailymail.com/news/article-16094843/data-centres-australia-expansion-chalmers-economy.html Daily Mail Homepage: https://www.dailymail.com/auhome Daily Mail Facebook: https://www.facebook.com/DailyMailAust Daily Mail IG: https://www.instagra
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