格隆汇11月28日｜芝商所(CME)：市场因Cyrusone数据中心的冷却问题而暂停交易。正在努力解决宕机 问题，将在获取相关信息后立即向客户通报详情。 ...

以下文章来源于动察Beating ，作者律动编辑部 动察Beating . 金融秩序如何被技术、资本与野心重塑｜律动BlockBeats旗下深度报道账号 来源丨 动察Beating （ Beating_BlockBeats ） 作者丨 林晚晚 人类最顶尖的资产，现如今被最原始的物理瓶颈卡死了。 美国缺电达到一个 令 人难以理解的程度。缺口 44吉瓦，相当于瑞士这样中等发达国家的全部电力产能。而在这个号称科技最发达的国家，为一个新建的 AI 数据中心通电，平均等待时间已经拉长到了48个月以上。 美国的电网像一个垂暮老人。 就在 AI巨头们拿着千亿美金却找不到插座的绝望时刻，他们发现，救命稻草竟然出现在了他们最看不上的地方——比特币 矿场 。 那华尔街突然意识到：这群人手里握着的，是 AI 时代最稀缺的资产 ——已经与能源公司签约的巨量电力 。 图源丨Midjourney 2025 年年末，一家中国加密设备公司比特大陆，被列入美国国家安全审查名单。 11 月 21 日，美国国土安全部启动代号"红色日落行动"，以国家安全为由，把比特大陆推到审查台上。指控条款字字诛心：调查其设备是否存在远程后 门，是否会在极端时刻给 ...

Group 1: ServiceNow and Veza Acquisition - ServiceNow is in advanced talks to acquire security startup Veza for over $1 billion, indicating a strategic move to enhance its security offerings [1]. Group 2: Reliance Group's Investment in AI Data Centers - Reliance Group plans to invest $11 billion in building AI data centers in India, specifically in Visakhapatnam, Andhra Pradesh, with a 1 GW facility on a 400-acre site [2]. - The joint venture, Digital Connexion, formed by Reliance Industries, Brookfield Asset Management, and Digital Realty Trust, aims to capitalize on the growing demand for AI infrastructure [2][3]. - This investment reflects a broader trend of global tech giants investing heavily in India's AI sector, positioning the country as a major beneficiary of the AI boom [3]. Group 3: Market Trends and Projections - The overall investment in India's data center market is expected to exceed $100 billion by 2027, highlighting the rapid growth and potential in this sector [4].

Core Insights - The National Development and Reform Commission (NDRC) is expanding the scope of infrastructure REITs to include urban renewal facilities, hotels, sports venues, and commercial office facilities [1] - A report by JLL indicates that China has successfully invested in physical assets like infrastructure, real estate, and manufacturing equipment over the past decades, with future policies shifting focus to public concerns such as education, social security, employment, healthcare, and housing [1] - Consumer-focused infrastructure REITs are becoming a market highlight, with 11 listed products showing strong growth as of October 15, 2025 [1] Group 1 - Initial inclusion of warehousing logistics, toll roads, municipal facilities, and industrial parks in the infrastructure REITs issuance scope [4] - Gradual addition of sectors such as clean energy, data centers, affordable rental housing, water conservancy facilities, cultural tourism, and consumer infrastructure [4] - The ongoing government stimulus for consumption and the expansion of consumer-oriented REITs are expected to attract increasing investor interest in retail assets [4]

Group 1 - The Chinese government is promoting high-quality development and has approved the draft of the "National Reading Promotion Regulations" [1] - The number of humanoid robot companies in China has exceeded 150, with more than half being startups or companies from other industries, indicating a growing innovation landscape [6] - Morgan Stanley strategists suggest that a potential interest rate cut by the Federal Reserve could support the continued rise of emerging markets [17] Group 2 - Morgan Chase strategists predict a higher probability of significant gains in the Chinese stock market next year due to multiple positive incremental drivers, including broader AI applications and consumer stimulus measures, leading to an upgrade of A-shares to "overweight" [8] - The European Space Agency's budget for the next three years has reached a record $25.5 billion, indicating strong investment in aerospace projects [18] - The announcement of a strategic cooperation framework agreement between Shanghai Lishuan and a leading domestic cloud computing service provider highlights ongoing developments in the cloud computing sector [10]

Core Viewpoint - The Beijing Municipal Science and Technology Commission and the Zhongguancun Science City Management Committee have released a plan for the construction of a space data center, aiming to establish a centralized large-scale data center system in the 700 to 800 kilometers dawn-dusk orbit, capable of accommodating a million-class server cluster for space-based data relay transmission and computing services [1] Group 1 - The plan involves the construction and operation of a centralized large-scale data center system [1] - The proposed data center will be located in the 700 to 800 kilometers dawn-dusk orbit [1] - The system is designed to accommodate a million-class server cluster [1] Group 2 - The data center will provide space-based data relay transmission services [1] - The center will also offer computing services [1]

Group 1: REITs Expansion - The National Development and Reform Commission (NDRC) is actively promoting the expansion of infrastructure REITs to include urban renewal facilities, hotels, sports venues, and commercial office facilities [1][2] - Since its launch in 2020, the REITs market has expanded to cover 12 major industries and 52 asset types, with 18 asset types from 10 industries having achieved their first issuance [2] Group 2: "Two Heavy" Construction Achievements - The NDRC has allocated 7 trillion yuan and 8 trillion yuan in special long-term bonds for 2024 and 2025, respectively, to support 1,465 and 1,459 "hard investment" projects [3] - Significant improvements in urban safety resilience have been achieved through the construction and renovation of urban underground pipelines [3] - Over 100,000 new high school seats have been created, and 15,000 hospital wards have been renovated to improve healthcare conditions [3] Group 3: Credit Repair and Humanoid Robots - The NDRC has issued the "Credit Repair Management Measures," which will take effect on April 1, 2026, addressing challenges in credit repair management [4] - The NDRC emphasizes the need to balance speed and potential bubbles in the humanoid robot industry, aiming to prevent market saturation and ensure orderly development [5] - The establishment of industry standards and evaluation systems for the humanoid robot sector is a priority, along with support for collaborative technological advancements [5]

Core Viewpoint - The Beijing Municipal Science and Technology Commission and the Zhongguancun Science City Management Committee have released a plan for the construction of a space data center, aiming to establish a centralized large-scale data center system in the 700 to 800 km dawn-dusk orbit, capable of accommodating a million-class server cluster for space-based data relay transmission and computing services [1] Group 1 - The plan involves the construction and operation of a centralized large-scale data center system [1] - The proposed data center will be located in the 700 to 800 km dawn-dusk orbit [1] - The system is designed to accommodate a million-class server cluster [1] Group 2 - The data center will provide space-based data relay transmission services [1] - It will also offer computing services [1]

Core Viewpoint - The Beijing Municipal Science and Technology Commission and the Zhongguancun Science City Management Committee have released a plan for the construction of a space data center, aiming to establish a centralized large-scale data center system in the dawn-dusk orbit at altitudes of 700 to 800 kilometers [1] Group 1 - The proposed data center system will accommodate a server cluster capable of handling millions of computing tasks [1] - The initiative will facilitate space-based data relay transmission and computing services [1]

Core Insights - The report from Morgan Stanley reveals that the water consumption of AI data centers is expected to exceed 100 billion liters by 2028, highlighting a significant risk due to the inability to transport water across regions like electricity [1][9][10] - The focus on energy consumption overlooks the critical issue of water scarcity, which is becoming a local project killer for data centers [6][12] Water Consumption Projections - By 2028, the direct cooling and electricity production consumption of AI data centers is projected to reach 106.8 billion liters [9] - In an optimistic scenario, this figure could rise to 148.5 billion liters, while even in a pessimistic scenario, it would still be 63.7 billion liters [10][11] Localized Water Resource Risks - The real bottleneck is not the total water consumption but the localized availability of water resources, which cannot be easily transported [12][14] - Recent examples include Amazon's "Project Blue" being rejected in Tucson, Arizona, due to high water and electricity demands, and opposition to AI data center plans in North Lincolnshire, UK, due to existing water supply issues [14][15] Technological Adaptation - Tech giants are being forced to innovate to survive in a water-scarce environment, focusing on technologies that significantly reduce Water Usage Efficiency (WUE) [16] - Examples of emerging technologies include microchannel cooling plates and the use of natural cooling sources, such as Google's project in Finland utilizing seawater [17][18] Regulatory Landscape - Regulatory bodies are increasingly focused on water usage standards for data centers, with regions like Singapore and Malaysia setting strict WUE targets, and the EU planning mandatory minimum performance standards by 2026 [19][20][21] Beneficiaries of Water Solutions - Companies specializing in water treatment solutions, such as Ecolab, Toray Industries, Veolia, and DuPont, are expected to benefit from the rising demand for water resource management as data center operators strive for water sustainability [22]