One of the Top Beneficiaries of the AI Energy Boom
With growing, explosive demand for artificial intelligence, electricity demand could double by 2030, according to the Electric Power Research Institute. They added that AI queries “require approximately ten times the electricity of traditional internet searches and the generation of original music, photos, and videos requires much more.”
In addition, according to the World Economic Forum, to achieve a tenfold improvement in AI model efficiency, the computational power demand could surge by up to 10,000 times. Since the energy required to run AI tasks is already accelerating with an annual growth rate between 26% and 36%, by 2028, AI could be using more power than Iceland used in 2021.
That being said, one of the top stocks to keep on the watch list is AES Corp. (SYM: AES).
In fact, according to Morgan Stanley, “AES remains well positioned to serve data center renewables demand, where it still sees robust interest and upward pressure to returns,” as quoted by CNBC.
“AES is viewed as a key partner for the tech sector because the company executes on time and budget, having never canceled a project, the analyst wrote. It has a renewable pipeline of 66 gigawatts, the majority in the U.S., with 75% located in data center growth areas.”
Last trading at $16.72, we’d like to see AES rally back to $20.50 initially.
Related Read: Post-Election AI Stocks: The Opportunity You Need To Pay Attention To
AI stocks are hot, but the real heat could come right after the election.
The incoming president could trigger a new wave of AI investments, sending select companies to the moon.
We’ve seen AI disrupt industries like retail and manufacturing, but what’s coming next in this new industry could be game-changing.
Those who moved early on past tech innovations reaped the rewards.
Now, you have a rare chance to potentially do the same with this next AI surge.
Do your due diligence before Wall Street catches up before it is too late.
The AI revolution is far from over—do you want to be a part of it?
Discover the stock poised to lead this next wave of winners post-election.
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