A Crazier-Than-P2P Bubble In China Is Bursting! AI And Smart Computing Centers Are Failing

Statistics show that in the first quarter of 2025, China had 165 AI computing center projects with new activity. Of these, 58% (95 projects) remained in approved or planning stages, 33% (54 projects) were under construction or near production, and only 16 centers—less than 10%—were actually operational or in trial runs.
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