Clayco Founder Bob Clark Rejects AI Bubble Fears
Clayco founder Bob Clark argues that demand for AI and data center infrastructure remains strong despite concerns about a speculative bubble. The proposed $1 billion Project Cumulus data center in St. Charles, Missouri, was withdrawn after local opposition, amid concerns about transparency, electricity, water, environmental impacts and community benefits.
Clayco founder Bob Clark said demand for artificial-intelligence infrastructure remains durable because major technology companies are financing data center expansion with established businesses and cash flow. Clayco completed 16 data centers in 2025 and had 77 more projects underway across 13 states, according to Forbes, with data center work expected to make up most of the company’s 2026 revenue.
The article highlights the proposed Project Cumulus development near Elm Point Road and Highway 370 in St. Charles. The approximately $1 billion, 1.5-million-square-foot project, pursued by Clayco real estate subsidiary CRG, faced opposition over limited project disclosure, neighborhood impacts, utility demands, water use and uncertain long-term economic benefits. CRG withdrew its conditional-use application in August 2025 before the St. Charles City Council voted, and the city subsequently moved toward a moratorium on new data center applications and a proposed zoning amendment that would prohibit data centers as a primary use within city limits.
Clark has acknowledged that developers need to improve public outreach and address concerns about infrastructure, environmental effects and community participation. The article also examines broader risks to AI infrastructure investment, including electricity demand, financing costs, technological change and the possibility that some projects could be delayed or canceled even as the industry continues to expand.