Microsoft · Axios · U.S. · Axios
AI is turning energy into the hottest business in America
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The AI boom is pushing companies across the economy, from tech giants to automakers, deep into the energy business.
Key facts
- The energy behind the [artificial] intelligence is invisible to most people, but it's enormous," said Andy Power, president and CEO of Digital Realty, one of the world's largest and most established
- Microsoft, Google, Amazon and Meta are teaming up with nonprofit investor Elemental Impact to accelerate new technologies using data centers as test cases
- The AI boom is pushing companies across the economy, from tech giants to automakers, deep into the energy business
- The scramble for electricity has become the gold rush beneath the AI boom, creating enormous financial value and enormous risk if demand falls short
Summary
The scramble for electricity has become the gold rush beneath the AI boom, creating enormous financial value and enormous risk if demand falls short. Electricity, long treated as a cheap, abundant commodity or doubling down on, the power behind the AI boom. Ford's stock price rose to its highest level in three years after its rollout of the $2 billion energy business. Bloom Energy, long seen as a niche energy player whose tech can deliver on-site power fast, saw its stock price skyrocket more than 1,200% over the past year.