Tech Giants Turn to Private Power: Meeting the Electricity Demand for AI and Bitcoin
Doug McIntyre and David Callaway discuss the surge in demand for electricity in the United States driven by AI and Bitcoin. Companies like SoftBank and Google are moving towards private electricity generation, bypassing traditional utilities. This shift is already in motion, with major Wall Street firms partnering with energy companies to meet the growing needs. The demand for electricity, stable for decades, has skyrocketed in recent years and is expected to increase significantly by 2030 due to the proliferation of data centers supporting the AI industry.
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