The growing demand for electricity driven by artificial intelligence (AI) is becoming a significant investment theme. Wells Fargo projects that AI power demand could surge from 8 TWh in 2024 to 652 TWh by 2030. Goldman Sachs forecasts a 15% annual growth in data center power demand from 2023-2030, necessitating 47 GW of additional power generation capacity in the U.S. by 2030. Companies like Nvidia ($NVDA) are contributing by making more energy-efficient chips to address this rising demand.
If AI power demand will rise from 8TWh in 2024 to 652 TWh by 2030, then $MSFT & Co. should probably start building nuclear reactors and heavily investing in R&D, as ChatGPT 34 will need fusion to run
Projections for higher U.S. electric power demand from AI & data centers range from 5% to 15% annual growth. https://t.co/9AjhUY1v3r #energy #EnergyTransition #ClimateActionNow #renewables #NetZero #FossilFuels #technology #AI #electricity #electricitybills https://t.co/XqARo1NYSf
Goldman Sachs forecasts that data center power demand will grow at 15% from 2023-2030 "47 GW of additional power generation capacity will be required to meet the growth in U.S. data center power demand by 2030." https://t.co/uFs3VF5Y9f #technology #AI #electricity… https://t.co/FpGBbtFqjy
AI is projected to send electricity demand soaring: Wells Fargo estimates AI power demand could rise from 8TWh in 2024 to 652 TWh by 2030. What are your favorite AI power consumption plays?
Growing electricity demand (particularly related to AI) and the various ways to service that demand has been an increasingly important investment theme. In addition to Nvidia $NVDA, which is doing its part by making chips more energy efficient, I’ve primarily played the theme…