Breaking: Data centers are booming while every other type of private construction is shrinking

Change in yearly construction spending since 2023:

• Data centers: +$51B

• Everything else: -$120B

Michael Burry warned everyone:

1. Private construction outside of data centers fell 7.9% year over year in June

2. GDP growth is really counting on that data center buildout

3. The buildout is being funded with rising debt, off-balance sheet financing, and insurers soaking up the risky paper

4. The most profitable companies in the world, except Apple, are betting everything on this as their free cash flow turns negative

Burry doesn't think this lasts much longer