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Not AI chips! Soros protégé: Electrification is the main theme for the next decade, bullish on copper, aluminum, and cables.
Renaud Saleur, a former trader at Soros Quantum Fund, predicts that global electricity consumption will increase by approximately 18,000 terawatt-hours from the current level of about 20,000 terawatt-hours by 2035 to 2040. This massive demand is expected to drive substantial investments in copper, aluminum, cables, and nuclear energy. He anticipates that uranium prices could reach $200 by the end of 2027.
AI electricity demand is projected to surge threefold within five years, while the U.S. power grid is 'not yet ready,' and natural gas is playing a 'critical role.'
AI data centers are consuming electricity at a rate far exceeding the capacity limits of the U.S. power grid—peak demand forecasts have surged threefold within five years. Natural gas has become the only viable option capable of meeting the required speed and scale. However, these power plants, with an operational lifespan of 30 years, are widening the gap between carbon reduction commitments and energy realities.
Expenditure on power generation equipment for U.S. data centers may reach $65 billion by 2030, as AI computing infrastructure continues to drive growth in the power equipment market.
By 2030, U.S. spending on power generation equipment for data centers could reach $65 billion, a significant increase from $2.6 billion last year.
Where are the bottlenecks in the AI infrastructure industry chain?
Who is holding back AI's progress?