Critical warning from Fitch: Risk is growing in artificial intelligence investments

Fitch Ratings warned that US artificial intelligence data-center investment is facing growing headwinds from potential state-level restrictions and delays in electricity supply. The agency flagged Texas, Georgia and Ohio—home to more than half of projects under development—as the states where new rules could slow investment. The caution matters because AI infrastructure spending has become a major driver of US capital expenditure and power demand. Investors should watch state regulatory decisions in those three markets and the pace of grid connections for signs of project delays.