According to the latest market data from the Kobeissi Letter, the value of data centers under construction in the US has increased by 29% year-on-year, reaching $45.1 billion, surpassing the scale of traditional office building projects for the first time. This change stems from the hyperscale capital expenditures driven by the artificial intelligence revolution, with companies such as Amazon and Meta investing heavily in power-intensive computing facilities to support AI model training. Since the release of ChatGPT in 2022, the scale of data center construction has surged by 228%, while the value of office building development has declined by 13% to $43.5 billion during the same period, hitting a new low since October 2015. This structural shift marks a fundamental transformation in how US companies utilize physical space, with AI-driven digital infrastructure reshaping the economic landscape.