Artificial Intelligence and autonomous driving drive secular bull market for fourth-quarter delivery forecasts
We recently compiled a list 10 Artificial Intelligence News You Can’t Miss. In this article, we’ll take a look at how Tesla Inc (NASDAQ: TSLA ) stacks up against other can’t-miss artificial intelligence stocks.
Power demand for U.S. data centers could nearly triple over the next three years, according to a Department of Energy-backed study. As industries undergo an artificial intelligence transformation, data centers may account for 12% of total U.S. electricity consumption. A report from Lawrence Berkeley National Laboratory shows that by 2028, annual energy consumption by data centers could reach 74 to 132 gigawatts. The report aims to understand how big tech companies’ data center needs will impact the grid, electricity bills and the climate.
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“This really signals to us the frontier of growth in U.S. energy demand…” The report highlights the areas that are actually growing the fastest, and the frontier of U.S. demand growth is new growth in artificial energy.
An analysis by McKinsey reveals that the United States is expected to be the fastest-growing data center market, driven by the expansion of data, computing, digital connectivity, cloud migration, and new technologies, especially artificial intelligence.
A similar study from Bain & Company shows that global electricity demand is expected to increase by 72% from 2019 to 2023 due to the surge in artificial intelligence. Research further shows that demand could double 2023 levels by 2027 and is expected to continue to rise after 2027. Factors such as regulations and the ability of the data center supply chain to handle problems.
As energy demand grows rapidly, the power ecosystem faces many challenges simultaneously. From reliable power, power sustainability, upstream power access infrastructure, to power equipment within the data center, many issues must be addressed before power needs can be met. The need for data center sites in major data center hubs such as Northern Virginia; Santa Clara, California; and Phoenix has been increasing, according to a McKinsey study. So much so that areas outside the United States have paused the construction of many new data centers, largely because they lack the power infrastructure to support them. Therefore, meeting these needs is important to realize the full potential of artificial intelligence.
