For the first time on record, US construction spending on data centers passed office buildings. $50 billion versus $46 billion, annualized through March. Six years ago, the gap ran the other way. In 2020, offices outspent data centers by $65 billion. A 650% gap. The two lines just crossed. Data center construction is up 437% since the start of 2021 and 688% since the start of 2018. Office construction fell 9% year-over-year to its lowest level since 2015. New office projects under…