Sources: Why AI Isn't a Bubble – And Why That Changes Everything
Last updated: November 14, 2025 | Article published: November 13, 2025
About This Document
All sources used in "Why AI Isn't a Bubble" are documented below, organized by article section. Where possible, sources have been archived via the Internet Archive's Wayback Machine to ensure permanent access. Archive links are marked in green.
Section II: Why This Isn't a Bubble - Following the Money Trail
Employment Updates November 2025
Bureau of Labor Statistics: Non-farm payrolls, unemployment rate
Bureau of Labor Statistics: Non-farm payrolls, unemployment rate
Initial jobless claims: 227.25K (4-week average)
Continuing jobless claims: 1,974K (1.97 million)
Goldman Sachs: Automation-vulnerable sector job losses
Financial Juice/MyFXBook market data sources
Historical Data Center Capital Expenditures
Statista - Total Data Center Systems Worldwide Spending Forecast
Dell'Oro Group - Data Center Infrastructure / Data Center CapEx
Brightlio - Data Center Statistics
Data Center Knowledge - AI-Accelerated Servers Fuel Growth in Data Center Spending
Construction Dive - Cloud, Data Center Q3 Spending (AWS, Azure, Microsoft)
DGTL Infra - Cloud Hyperscale CapEx
CIO Dive - Cloud Data Center Hyperscale Spending Spree for Generative AI
Network World - Data Center Spending to Top $1 Trillion by 2029 as AI Transforms Infrastructure
CIO Dive - Data Center, AI, Cloud Infrastructure CapEx and GPU Servers
The Chip Layer: AMD and NVIDIA
Seeking Alpha - AMD Stock Analysis
Export Controls
Bureau of Industry and Security (U.S. Department of Commerce)
Semiconductor Industry Association
Physical Infrastructure Being Built
Meta - AI-Optimized Data Center in El Paso
Meta Data Centers - Hello El Paso
El Paso Matters - Meta Data Center: Water, Electricity, and Tax Incentives
El Paso Inc. - Meta Data Center in El Paso
AI Magazine - Meta Breaks Ground on 1GW El Paso AI Data Centre (Manual Archive)
ACS-BlackRock $27 Billion Data Centre Deal (Reuters) - ADDED NOV 14, 2025
Google Projects
Semafor - Google Wants to Build Solar-Powered Data Centers in Space
Interesting Engineering - Google Project Suncatcher: Space AI
Designboom - Google AI Data Centers in Space
WinBuzzer - Google's Project Suncatcher Aims to Build TPU-Powered AI Data Centers in Space
Section IV: They're Getting Taxpayer Subsidies to Do It
Tax Incentives and Subsidies
Bond Buyer - State and Local Tax Incentives Subsidize Data Center Boom
Stateline - Most States Don't Disclose Which Companies Get Data Center Incentives (Manual Archive)
El Paso Matters - Podcast: Meta Data Center, Water, Energy, Tax Incentives
Texas A&M Real Estate Research Center - Facebook Parent Company Buys El Paso Land
Mirror Indy - Southside Data Center Tax Break (Amazon, Google, Microsoft)
Wisconsin Public Radio - Data Centers Revenue Tax Subsidy (Microsoft)
Michigan Utility and Power Infrastructure
Power Engineering - DTE Energy Looking at 7 GW Data Center Pipeline
Utility Dive - DTE Energy Data Centers Michigan Earnings
Utility Dive - DTE Data Center Deal "Transformational Growth"
Inside Climate News - Michigan Data Centers Would Kill Climate Laws
Detroit News - DTE Asks Regulators to Fast-Track Data Center, Skip Public Hearings
Michigan Public - Behind the Data Center Pushback in Michigan
Michigan Public - New Decision Could Protect Residential Customers from Rate Hikes
Bridge Michigan - DTE, Consumers Advance Plans for Power-Hungry Data Centers in Michigan
Planet Detroit - DTE, OpenAI, Saline Township
AI Employment Legislation
NY Senate Bill A433 (2025)
K&L Gates - Q1 2025 New York AI Developments
National Law Review - Q1 2025 NY AI Developments
Law and the Workplace - NY and NJ Legislatures Introduce Bills to Regulate AI Tools in Employment
Workforce Bulletin - States Ring in the New Year with Proposed AI Legislation
Bloomberg Law - NYC's New AI Bias Law Broadly Impacts Hiring and Requires Audits
Reed Smith - AI Explained: AI and New York Employment Law
Workforce Bulletin - Pumping the Brakes: New York Seeks to Curb AI Acceleration in Labor Market
NY Senate Bill S1169/A (2025)
National Law Review - New York Poised to Be Forefront of AI Regulation
Organizations and Reference Sites
Archive Status Summary
Successfully Archived: 67 sources
Manually Archived: 3 sources (required multiple attempts)
Failed to Archive: 14 sources (server errors, paywalls, or blocking)
Total Sources: 81+ verified references
About Wayback Machine Archives
All archived sources have been saved via the Internet Archive's Wayback Machine to ensure permanent accessibility. Archive timestamps reflect when the page was captured, which may be after the original publication date. All archives were created between November 13-14, 2025.
Article: Why AI Isn't a Bubble – And Why That Changes Everything
Published: November 13, 2025 | Sources Updated: November 14, 2025
Author: Angela Thornton | Publication: The Open Record