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The Unquenchable Need for AI Energy
AI’s computational power needs are doubling every 100 days, according to the World Economic Forum. Data center power reached 88 gigawatts (GW) in 2022, projected to exceed 300 GW by the end of the decade due to expansions by tech giants like Alphabet, Microsoft, and Meta Platforms.
China Dominates Energy Production
In 2022, China generated over 10,000 terawatt-hours (TWh) of electricity, surpassing the combined output of the US, EU, and India. Projections indicate ongoing rapid production, with China expected to match the US power grid’s output annually.
US Seeks to Remove Nuclear Red Tape
US Energy Secretary Chris Wright indicated a push to streamline regulations inhibiting nuclear energy, potentially benefiting the sector significantly. Stocks related to uranium and nuclear energy surged after his announcement, reflecting investor optimism in the wake of policy shifts.
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