The Globe and Mail reports in its Monday edition that generative artificial intelligence is seen ushering in a new economic age. The Globe's Joe Castaldo writes that to build more powerful AI models and to support widespread usage, the world needs data centres stocked with computer chips, usually graphics processing units, designed to handle intense processing needs. AI data centres need gargantuan amounts of electricity, which the world cannot easily supply, so new capacity is needed. Fermi aims to help. It plans to roll out 11 gigawatts of electricity to power AI data centres. It holds a 99-year lease on a swath of Texas land able to simultaneously house the largest data centres "currently in existence." Fermi went public on the Nasdaq in October and soon hit a valuation of more than $17-billion (U.S.). It has zero profit, zero revenue and a single letter of intent from a customer. Fermi's very existence shows we are at a point when AI dreams and a land lease are worth billions. The hype and spending on AI have led to a speculative frenzy. Major tech figures like Sam Altman, Mark Zuckerberg, Jeff Bezos and Sundar Pichai have recognized the potential for over-investment, despite their support for AI's long-term value.