There is a new goldrush under way in the United States. But this time prospectors are in desperate search of locations with the necessary ingredients to power the data centers vital for the new age of artificial intelligence. And where such centers already exist, rental rates are spiking.

"Data center operators are prioritizing power availability, rather than selecting markets based on location, connectivity, water and land pricing," CBRE reports. "Data center providers and customers continue acquiring land in strategic markets, with lack of suitable sites causing bidding wars for offerings that meet established power and fiber profiles."

The pace of construction is remarkable. Despite a lack of readily available power and chokeholds in the electrical infrastructure supply chain, a record high of 2,2876 megawatts was under construction in primary markets – a 25% year-over-year increase, CBRE reported. Chicago led the nation with a 125% increase in data centers under construction.