Wall Street’s $50 Billion Bet: Powering AI with High-Risk Energy Infrastructure

By Douglas McIntyre  •  November 3, 2024

Wall Street firms, led by the investment bank KKK, are betting big on AI, with $50 billion directed toward alternative energy infrastructure to power AI data centers. Doug McIntyre discusses how this funding primarily supports renewable energy utilities and the extensive power grid needed for AI, which could consume more electricity than Japan by next year. However, this investment is risky because renewable energy infrastructure in the U.S. faces challenges, with limited government support and high loan rates from private firms deterring rapid growth.

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