Tech companies' AI infrastructure demands drive utility investment opportunities
CNBC — April 1, 2024, 03:00 AM UTC
Summary: Tech companies are investing heavily in AI infrastructure, leading to increased power demands. Morgan Stanley's Aaron Dunn sees utilities as a lucrative investment due to AI's growing energy needs. AI servers from Nvidia alone consume as much electricity as 20 million US homes. Data centers, crucial for AI, currently use 1-2% of global electricity, with consumption projected to grow by 11% annually until 2030.
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