AI Data Centers Are Power Hungry. These 6 Power and Cooling Stocks Could Benefit Through 2030.
Artificial intelligence is just a fancy computer program, and these six companies are well-positioned to provide the ravenous technology with power.
Overview
An arms race is taking shape in the artificial intelligence (AI) space, with companies working as quickly as possible to build bigger and better AI technology. Since AI is basically just a fancy computer program, a key factor in this growth is electricity. In fact, powering the data centers that house AI has become a very contentious issue.
That hasn't stopped the building spree, with the International Energy Agency predicting that AI power demand will double between 2024 and 2030. At that point, AI will require 945 terawatt-hours of power. That equates to 15% annual consumption growth. Bloom Energy (NYSE: BE), Plug Power (NASDAQ: PLUG), Eaton (NYSE: ETN), Vertiv (NYSE: VRT), GE Vernova (NYSE: GEV), and NextEra Energy (NYSE: NEE) could all benefit, highlighting the vast opportunity AI electricity demand is creating. Here's a quick look at each of these six companies.
Image source: Getty Images.
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Originally published at www.fool.com.