Australia AI Boom May Revive Productivity, CBA Says, Shares Gain

Australia has become the world’s third-largest AI investment destination behind the US and China, a result that’s set to spur productivity in an economy currently struggling with a low potential growth rate and high inflation, Commonwealth Bank of Australia says.

CBA’s updated estimates suggest that Australia’s data center pipeline is closer to 6 gigawatt or A$150 billion , implying installed capacity could more than triple over the period to 2030, according to a research note released Monday by economists led by Luke Yeaman.