Carnegie Endowment's @SamWinterLevy reveals why the same data center can be worth 20% less in the UK than in America simply because it takes longer to turn on: "The key factor is time to power. The quicker you can get a data center up and running, that just swamps every other factor. That swamps energy costs, tariffs, tax incentives of the kind that many US states are offering. The speed at which you can get this data center up and running is by far and away the most important factor." "UAE and some US states have been able to get data centers up and running pretty quickly. UK, Germany, Australia very slow. Just a lot of obstacles to connecting data centers to the grid, and that just destroys the value." "A data center in the UK, the lifetime value is probably about 20% lower than a data center in the US, just because it takes so long to get it up and running." "If you're a country negotiating with these labs, if you can go to them and say, we can get a data center up and running in under 24 months, that's super valuable to those labs right now, and that gives you quite a lot of leverage to ask for concessions in exchange around access guarantees or tax revenue for local communities." @CarnegieEndow