11월 넷째 주 News Update

11월 마지막 주 국내외 데이터센터 뉴스는 “AI 인프라 초호황 vs. 거품·좌초자산·전력 리스크”라는 두 개의 큰 축으로 정리된다. 한편 한국 기업·지자체·인프라 업체들은 이 흐름을 국내 AI 데이터센터·전력·냉각·소재·케이블·연료전지 사업 확대로 연결하려는 모습이다.

(New Article Summary by Perplexity)

1. AI 데이터센터 투자와 ‘빚투’ 가속

미국에서는 아마존·오라클·메타·MS 등 빅테크가 회사채·프로젝트 파이낸싱 등 ‘빚’을 통해 수백조 원 규모 AI 인프라를 조달하면서, AI 채권 발행이 900억~1,200억달러 규모로 늘고 CDS 스프레드 상승·신용우려가 제기되고 있다.
국내에서도 KT–디지털브릿지, SKT–AWS 협력, 해남군 AI·에너지 거점 육성, 삼성SDS 초대형 AI 데이터센터, LS전선·LS에코·TMC(케이블)·냉각·전력 기자재 업체 수주 확대 등 “AI 데이터센터 슈퍼사이클”에 올라타려는 움직임이 본격화되고 있다.

2. ‘좌초 자산’ 경고: 2년도 못 가 고철 될 수 있다?

한경 기사와 같은 분석에서는 GPU 세대 교체 주기(실질 2년 이하), GPU 감가상각 2~6년 vs. 회계상 5~10년의 괴리, 알고리즘 효율(연산량 8~9개월마다 절반) 개선 등을 근거로, 지금 짓는 AI 데이터센터·GPU 팜이 기술 변화에 따라 좌초 자산이 될 수 있다고 경고한다.
뉴로모픽, 양자컴퓨팅, 소형 특화 모델·온디바이스·분산형 AI 등 패러다임 전환이 현실화될 경우, 현재의 중앙집중·GPU 집약형 데이터센터는 경제성이 급격히 떨어져 “수조 달러 규모 인프라가 고철”이 될 수 있다는 시나리오까지 제시된다.

3. 금융·거시경제 리스크와 AI 거품 논쟁

모건스탠리·월가 리포트 등은 2028년까지 AI 인프라에 최대 3조달러, 2030년까지 누적 부채성 조달 1.5조달러 이상이 예상되며, AI 인프라가 부실화될 경우 회사채 시장·비은행금융(NBFI)·사모크레딧에 연쇄 충격을 줄 수 있다고 본다.
실제로 오라클의 경우 공격적인 AI 투자·차입 이후 CDS 급등·주가 30%대 급락 등 “AI 빚투 리스크”가 현실화된 사례로 거론되고, 월가 일부·국내 기사들은 AI 채권 홍수, 수익률 상승, 신용등급 하방 위험을 경고한다.
반론도 강력하다. 클라우드 사업 호조를 내세운 알리바바, AI 서버 공급이 여전히 수요에 못 미친다는 주장, 감가상각은 회계 이슈일 뿐이라는 논리, 건물·전력 인프라는 장기 활용 가능하다는 입장 등이 “AI 거품론은 과장”이라는 논지를 뒷받침한다.

4. 국내 데이터센터·전력·냉각·소재 생태계 확대

KT–디지털브릿지의 국내·해외 DC 합작, SKT–AWS 클라우드·AI 협력, LS전선·효성의 인도 전력·통신 인프라 진출, LS전선·LS에코의 DC 프로젝트 수주 등은 한국 인프라 기업이 글로벌 AI·전력·케이블 수요를 겨냥해 포지셔닝을 강화하는 흐름이다.
AI 데이터센터 급증으로 공조·냉각 시장도 급성장 중이다. LG전자의 대형 칠러, 삼성·LG의 공조전쟁, 서울대 AI 데이터센터에 액침냉각 공급, SK피아이씨글로벌의 DC용 냉각액, 글라스울 단열재 등의 수요 확대가 대표적이다.
모듈형·컨테이너형 데이터센터, 수소 연료전지·하이브리드 발전, 비상발전기 계약 확대 등은 초기 투자·위치·전력 리스크를 분산시키려는 기술·비즈니스 모델의 변화로 볼 수 있다.

5. 전력·사회적 수용성과 제도 이슈

AI·데이터센터 전력 사용 급증으로, 한국에서도 “전기 먹는 하마” 논쟁과 함께 전력 수급·요금·피크전력 우려가 커지고 있다.
주민 반대·입지 갈등, 데이터센터 특별법이 AI DC 중심으로 설계돼 기존 시설이 소외될 수 있다는 업계 우려, 해외 빅테크 의존·국내 제조업의 AI 전환 지연·야간 저부하 문제 등도 동시에 제기된다.
광역 지자체(예: 해남군)의 “에너지·AI 수도” 전략, 모듈형 DC·저전력 칩·냉각혁신 도입, 수소·신재생 연계 발전 등은 사회적 수용성을 높이면서 AI 인프라를 키우려는 정책·사업 실험으로 볼 수 있다.

6. 한국 경제·HBM·반도체에 대한 함의

미국 AI 인프라 사이클이 꺾이거나 좌초 자산 문제가 부각되면, HBM을 포함한 한국 반도체·전력·장비·건설·소재 업종이 동시에 타격을 받을 수 있다는 경고가 나온다.
특히 한국 반도체 수출에서 HBM 비중이 빠르게 커지는 상황에서, AI 패러다임 전환(알고리즘 효율화·온디바이스 확산 등)으로 HBM 수요가 꺾일 경우 한국 수출·증시·고용에 구조적 충격이 올 수 있다는 시나리오가 제시된다.

7. 발전 가능성·전략적 Insight 및 전망

단기(1~3년): AI·데이터센터 CAPEX는 글로벌 경기의 핵심 엔진 역할을 계속할 가능성이 크지만, 금리·채무 부담·정책 리스크 때문에 ‘선별적 투자’와 ‘전력·냉각·운영 효율’ 중심의 차별화가 중요해질 전망이다.
중기: 알고리즘·칩·전력 인프라·냉각 기술이 동시에 발전하면서, “대형 GPU 팜 일변도”에서 벗어나 모듈형·에지·온디바이스·전용 AI 칩·뉴로모픽·양자(파일럿 수준) 등 다층 구조로 재편될 가능성이 크다.
전략 인사이트:

기업 입장: DC 투자 시 건물·전력 인프라는 최대한 범용·재활용 가능하게 설계하고, GPU·AI 칩은 업그레이드·리스·공유 모델을 적극 고려해 좌초 위험을 줄여야 한다.
정책·규제: 전력망·냉각·입지·ESG 기준을 명확히 하되, 기존 시설과 AI 특화 신설 DC를 균형 있게 다루는 제도가 필요하다.
한국 산업: HBM·GPU 주변 생태계에만 의존하기보다, 전력·냉각·케이블·소재·운영 소프트웨어·옵저버빌리티 등 ‘AI 인프라 스택 전체’에서 포지션을 넓히는 전략이 중·장기 리스크를 줄이는 방향이 될 수 있다.

Global

Amazon to invest $15 billion in Indiana to boost data center infrastructure

DigitalBridge to develop data centers with Korea Telecom

Companies to collaborate in South Korea and abroad

How to make data centers less thirsty

There’s a way to reduce both the climate and water harms of data centers: Build them in places with lots of wind and solar energy.

NIPSCO to supply 3 GW to Amazon data centers in northern Indiana

Northern Indiana Public Service Co. and an affiliate expect to spend about $7 billion on 2.6 GW of gas, 400 MW of storage and transmission — to be paid for by Amazon.

Amazon plans to invest $15 billion in Northern Indiana to build new data center campuses and advance AI innovation

Planned investment will create 1,100 jobs and support new workforce development training programs and local community projects.

Making GPU Clusters More Efficient with NVIDIA Data Center Monitoring

The big data center buildup

An AI server farm tsunami threatens to overwhelm the West’s power grid and water supplies

Major data centers may strain Michigan's electrical grid, energy experts say

Indian TV production company changes name, pivots to data centers

Company swaps media for 50MW data center campus in Telangana

Equinix plans $835 million data center in west Dallas

Construction is set to begin in February 2026 and is estimated to finish in October 2027.

AWS has more than 900 data centers - report

Data suggests cloud giant operates double the number of data centers previously thought

AWS Commits US$50bn to New Federal AI Data Centres in the US

Amazon Web Services announces $50bn plans to build first purpose-built AI and high-performance computing infrastructure for US federal agencies

Smart permitting, phase-out of diesel generators could curb data center impacts

A look at what’s happening in California shows that even in an environmentally progressive state, unhealthy emissions and resource depletion is a problem needing a solution, an academic report says.

New Mexico AG pushes for fairness in AI data center costs

Fossefall acquires data center in Telemark, Norway

Firm makes first acqusition, weeks after officially launching

Power, water, and community: Key pieces in the data center jigsaw of sustainability

Sean James, Microsoft's senior director of energy & data center research, joins Nvidia

James headed many of Microsoft's most ambitious data center research projects, including Project Natick

The United States Needs Data Centers, and Data Centers Need Energy, but That Is Not Necessarily a Problem

Electricity demand is growing rapidly and starting to strain the grid. Instead of slowing the growth of data centers, the United States should deploy new technologies and strategies to efficiently increase grid capacity while accelerating new generation and transmission.

Why Iceland Is Becoming a Model for Renewable-Powered High-Performance Computing

As power shortages and carbon pressures intensify worldwide, Iceland offers a proven model for scaling high-performance computing sustainably.

California Data Center Health Impacts ‘Tripled in Four Years’

UC Riverside study finds the potential health impacts from data center pollution may have tripled from 2019 to 2023.

When Data Centers Flood, Communities Pay the Price

An overlooked potential disaster may be heading toward a data center near you: the risks flooding poses to critical infrastructure are increasing.

AI Workloads to Dominate Data Centers Within Two Years – Report

Nearly half of those surveyed in a new industry report expect AI data centers to account for more than half of workloads within the next two years.

Why Traditional Economic Metrics Miss the Data Center Opportunity

New research across 80 economies shows digital infrastructure drives measurable growth beyond GDP – validating data centers' critical economic role.

Nvidia-Google AI Chip Rivalry Escalates on Report of Meta Talks

A deal would signal growing momentum for Google’s chips and long-term potential to challenge Nvidia’s market dominance.

YTL mulls building data center in South Africa

Macquarie weighs capital recycling, JV to fund $3bn Sydney campus

JTC, NUS to test green data center innovations on Jurong Island

Oracle deploys OCI Supercluster in the Middle East

Meta Looks to Power Trading to Support Its AI Energy Needs

The foray into power trading comes after Meta heard too few buyers make long-term commitments needed for clean energy investment.

Why Are Data Centres Driving NTT Data’s Green Shift?

NTT Data's sustainability priorities are evolving, with the firm updating its materiality framework to address issues posed by the age of AI & data centres

Schneider Electric's $2.3 Billion in AI Power and Cooling Deals Sends Message to Data Center Sector

Twin supply-capacity agreements by Schneider Electric with Switch and Digital Realty show how AI data centers are starting to lock up power and thermal infrastructure in much the same way as hyperscalers once locked up cloud chips.

Intertek Joins IMCA to Enhance Subsea Infrastructure Safety

Subsea cables power marine connectivity but risk marine ecosystems. Intertek joins IMCA to support safer, more sustainable offshore digital infrastructure

How Schneider Electric Positions Sustainable AI Data Centres

With AI driving global energy demands, Schneider Electric positions itself as the key energy tech partner for sustainable, efficient data centre growth

Why India is Building a 500MW AI Data Hub in Andhra Pradesh

DMC Global Partners Invest signs deal to deliver AI data centres and infrastructure in Andhra Pradesh, with over US$4.2bn investment planned

How SAP Links Reforestation to Data Centre Sustainability

SAP expands its reforestation and carbon removal work as part of a climate strategy that includes offsetting the footprint of its global data centre estate

nLighten inks renewable supply agreement with Axpo covering entire French data center portfolio

Deal will provide the company with hourly insight into the source of its renewable power

AI data center 'frenzy' is pushing up your electric bill — here's why

AI data centers are pushing up electricity demand and fueling higher electricity prices for U.S. households, according to energy experts.

Consumers in certain areas of the country like the West and Northeast have seen electricity prices increase faster than in other areas.

Turner Construction doubles data center revenue in 2025 with major AI-infrastructure projects

DC projects make up 40 percent of its $40.3bn order backlog

Microsoft loses two senior AI infrastructure leaders as data center pressures mount

atNorth to supply waste heat from DEN01 data center to district heating network in Copenhagen, Denmark

District heating network operated by Vestforbrænding, Denmark’s largest waste-to-energy company

Orange Maroc opens 1.5MW data center in Casablanca

Said to be telco's largest data center in Africa

Aramco and Pasqal deploy Saudi Arabia’s first quantum computer

Etix opens fourth Edge data center in Lille, France

Lille #4 will offer 2MW for AI workloads

HPE wins $931m contract to modernize US Defense Information Systems Agency data centers

Will see HPE deploying a hybrid multi-cloud solution

Stack tops out Swiss data center, completes construction in Melbourne

Work continues on ZUR2 and MEL01B

Skyrocketing electricity prices fuel political backlash against tech sector’s AI data centers

Echelon Iberdrola Digital Infra to Invest $2.3B in Data Centers in Spain

Builders leaned on infrastructure amid shutdown uncertainty

Optical data storage company SPhotonix raises $4.5m

Company uses lasers to write data onto durable quartz glass

Schneider to fast-track electricians to meet data center demand

OVHcloud experiences outage in Gravelines, France, data center region

Issues lasted for six hours

Power, water, and progress: Sorting fact from fiction in data centers

Enterprise security to be reshaped by AI, cloud & automation

Cloudflare outage traced to database change highlights fragility

Astro boosts SAP & Oracle uptime to 99.99% with SIOS on AWS

Data centres go underground with new sustainability plan

The articles for the third week of November show an industry in hyper‑growth for AI, while power, water, and community impacts are becoming central design constraints rather than side issues. Hyperscalers, utilities, and policymakers are pivoting toward integrated “power‑aware, climate‑aware” expansion models instead of pure capacity chasing.

(New Article Summary by Perplexity)

Key news and themes

Amazon is committing around $15 billion to new data center campuses in Northern Indiana, backed by a 3 GW power supply plan with NIPSCO and billions in generation, storage, and transmission investment, and it is separately pledging $50 billion for US federal AI/HPC infrastructure.
Global build‑out is broadening: DigitalBridge and KT plan joint data centers in Korea and abroad; Equinix is planning an $835 million Dallas facility; India is seeing both a media company pivot into a 50 MW campus and a separate 500 MW AI hub project in Andhra Pradesh; Morocco, France, Norway, Switzerland, Australia, South Africa, Spain, and others all report new sites, acquisitions, or large campuses.
AWS is reported to operate more than 900 data centers, far above earlier public estimates, underscoring how much hidden physical infrastructure now underpins cloud and AI services.

Technology, operations, and sustainability insights

AI workloads are expected to dominate new capacity within about two years, driving very high rack densities, large GPU clusters, and strong demand for advanced monitoring and optimization tools such as NVIDIA’s data center monitoring for GPU efficiency.
Power and water constraints are now front‑page issues: research and reporting highlight how AI data centers are raising electricity demand and household bills, especially in parts of the US, while health‑impact studies in California show pollution‑related risks rising sharply over just four years.
Responses include: siting facilities in cooler, renewables‑rich regions (with Iceland often cited as a model), experimenting with underground data centers, phasing out diesel generators through “smart permitting,” and capturing waste heat for district heating, as in Copenhagen.

Policy, community, and market structure

Political and regulatory pushback is intensifying: New Mexico’s attorney general is questioning who should bear AI data center costs; US states like New Jersey and Virginia are seeing backlash over soaring electricity prices linked to AI build‑outs; local experts in Michigan warn of grid strain.
At the same time, new analysis argues that the US “needs” data centers for economic and digital competitiveness and should focus on grid expansion, advanced transmission, and flexible demand management rather than capping growth.
Globally, data centers are being reframed as strategic digital infrastructure: large investments in Spain (Echelon/Iberdrola), India, the Middle East (Oracle OCI Supercluster), and government/defense modernization projects (HPE for US DISA) show how they tie into national AI, security, and industrial strategies.

Ecosystem, talent, and risk signals

Suppliers and builders are repositioning: Schneider Electric has signed about $2.3 billion in AI power and cooling deals and is fast‑tracking electrician training; major contractors like Turner Construction report data centers as a very large share of order backlog.
Cloud and platform operators face operational stress: Microsoft has lost senior AI infrastructure leaders as pressure mounts; OVHcloud and Cloudflare outages (including one tied to a database change) highlight the fragility and systemic risk of highly concentrated infrastructure.
New technologies and business models are emerging around the edges: optical storage (e.g., lasers writing to glass), subsea‑infrastructure safety initiatives, edge builds in places like Lille, and SAP/NTT Data tying reforestation and updated materiality frameworks directly to data center sustainability.

Forward‑looking directions and outlook

Near term (1–3 years): AI‑driven demand will likely keep global data center construction extremely strong, particularly in AI hubs across the US, Europe, and Asia‑Pacific, with utilities and regulators racing to secure multi‑GW power deals and grid upgrades.
Medium term: “Energy‑integrated” design becomes a competitive differentiator—long‑term renewable PPAs, power trading strategies (as with Meta), location choices optimized for climate and water, widespread waste‑heat reuse, and closer coupling between data centers and transmission planning.
Longer term vision: data centers evolve into critical nodes of national infrastructure—supporting AI, security, and economic growth—but must operate under stricter environmental, health, and community standards, pushing the industry toward higher efficiency, better transparency on impacts, and deeper collaboration with cities and grid operators.