AI and Data Centre Boom Pushes Australian Business Investment to Record High

Money is pouring into technology infrastructure, with spending on equipment jumping 96 percent on the March quarter.

Tech companies are significantly expanding local data centre capacity to keep pace with growing computing demands. Susanne Lindholm/SCANPIX SWEDEN via Getty Images

Growing demand for artificial intelligence infrastructure has driven Australian business investment to a record high, led by a sharp spike in data centre spending.

New figures from the Australian Bureau of Statistics (ABS) show private capital expenditure rose 6.5 percent in the March quarter to be 14.6 percent higher than the same time last year.