Data-center backlash spreads: about $42B of European AI projects stalled

CNBC tallies roughly $42 billion of European data-center investment stalled by local opposition over power, water and land, with similar fights emerging in South Korea and elsewhere. Capacity that does not get built is capacity you cannot rent. For anyone whose margins depend on inference prices falling, this is the counter-trend to watch: supply constraints at the physical layer, not model pricing, may set the floor.