> I am a little puzzled though by where these things are being built. Phoenix? Other than cheap solar power I can't tell why you'd want a data center there given the energy needed for cooling.

Not Phoenix, but I learned an interesting fact about some of the huge data centers in Las Vegas, which pre-date AI: since it's 72 degrees or cooler for more than 70% of the year, during those months they can just pipe in outside air without needing to cool it first.

On top of that, I think both Phoenix and Vegas have fewer natural disasters than other major metro areas.