The next Cold War is taking place in a chilled data centre

At the Milken Institute conference in Los Angeles this month, Australia's ambassador to the US Kevin Rudd highlighted China's financial support for such funds. "If you look at the scale of the Chinese industrial funds, they're of an order of magnitude which would make the CHIPS and Science Act and the IRA [US legislated spending packages] look like a walk in the park by comparison," he said. Chinese President Xi Jinping and US President Joe Biden at the Filoli Estate in Woodside, California, in November. New York Times Even if the US isn't spending as much as China, it is…