More than $1 trillion could be spent on artificial intelligence.
In fact, according to Goldman Sachs, “The investment banking firm estimates that around $1 trillion will be spent over the next few years on data centers, semiconductors, grid upgrades, and other AI infrastructure,” as noted by Data Center Dynamics.
Also, as noted by The New York Times, “A.I. data centers have a big appetite for electricity. The so-called graphic processing units, or G.P.U.s, used to train large language models and respond to ChatGPT queries, require more energy than your average microchip and give off more heat. With more data centers coming online almost every week, projections about how much energy will be required to power the A.I. boom are soaring.”
While AI demand will be great news for data center REITs, like Digital Realty (DLR), it’s also good news for energy stocks, like NextEra (NEE).
According to the company, the power required for AI could force electricity demand 38% higher between 2020 and 2040, which is up from the 9% increase in demand between 2000 and 2020.
In addition, the U.S. is forecast to build 375 GW to 450 GW of new renewable energy projects between now and 2030. That’s almost double the capacity of the last 30 years. All of which should help fuel even more upside for dividend-paying NextEra Energy.
Helping, we could potentially see interest rate cuts from the Federal Reserve sooner than later. All thanks to cooler than expect inflation data this week.
Last trading at $76.68, we’d like to see NEE initially retest $80 a share.
Related Reading: Top 5 AI stocks could turn 10K into 1M in the next few years.
Let’s cut to the chase.
This is one of the #1 AI stocks of 2024.
And this is why:
In order to power the next generation of artificial intelligence, we need a ton of ultra-powerful microchips.
These chips exist – but most manufacturers have already reached the maximum amount of transistors they can fit on one.
It sounds technical, I know. But here’s what it all boils down to:
Without more transistors, AI cannot and will not grow.
The industry and all of its potential will be stuck at a complete standstill with nowhere to go.
That’s where this company comes in.
It has special extreme ultraviolet technology to pack many more transistors onto a single chip using…
Making it the single company that the entire AI space needs to survive.
Investing $10,000 into my top 5 today could turn into $1M or more in the next few years.
I’ll reveal this company’s ticker – and even more details on how the wealth-generating opportunities of AI will expand this year – right here.
