From Investing.com: 2024-05-04 12:01:02

Goldman Sachs research explores the impact of artificial intelligence on global power demands, forecasting a 15% CAGR in data center power demand from 2023-2030. This will see data centers making up 8% of total US power demand by 2030, driving $50 billion in capital investment in US power generation capacity through 2030.

The bank also highlights challenges such as lengthy interconnection queues and construction/permitting timelines for natural gas projects. New generation AI servers consume more power but provide faster compute speed, suggesting potential upside if server utilization is unconstrained.

Goldman Sachs identifies two areas of beneficiaries from the energy demand forecasts: demand growth beneficiaries like unregulated power producers and supply chain/infrastructure beneficiaries. Companies like First Solar and Kinder Morgan are seen to benefit from the projected increase in utility-scale projects and natural gas demand, respectively.



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