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The next 12–24 months will reward operators who act on trends early, not those who wait for certainty. We published our annual list of Megatrends this week, and the goal wasn’t (just) to spark debate.

As wealthier areas are pushing back against huge A.I. data centers, speculators are pitching places like Doña Ana County, N.M., on their vision. Local officials are eager for a deal — even if they don ...

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