From Nasdaq: 2024-05-05 11:30:11

Elon Musk and Amazon CEO Andy Jassy agree that electricity supply is a major bottleneck in developing AI. Data centers are crucial for AI infrastructure, with global spending expected to exceed $225 billion by 2024. The rapid growth of the AI industry could lead to a significant increase in electricity consumption. Investors may consider utility stocks like NextEra Energy, which is expected to benefit from the demand for electricity from data centers. NextEra is a leader in renewable energy and has growth potential. The company’s CEO anticipates significant growth in renewables and storage in the coming years. NEE stock is a buy below $75.



Read more at Nasdaq: This Stock Is An Undiscovered Winner of the AI Boom