
The rising tide of artificial intelligence (AI) is providing a lift to various sectors, from semiconductors to data centers. Moreover, with adoption of the technology across multiple industries forecast to increase, AI is here to stay - and AI applications require a lot of energy.
For instance, this report by Goldman Sachs expects data center power demand to soar by 160% by 2030. Put differently, this study by the World Economic Forum suggests that by 2028, AI could be using more power than the entire country of Iceland used in 2021.