
A Global Nuclear Resurgence Is Driving Uranium Demand
The global demand for electricity is exploding, driven by several powerful forces. Artificial intelligence (AI) is a significant factor. Training and running large AI models requires enormous amounts of energy. A 2023 report from the International Energy Agency (IEA) projected that data centers, cryptocurrency, and artificial intelligence combined could double their electricity consumption from 460 terawatt-hours in 2022 to over 1,000 terawatt-hours by 2026. That increase is roughly equivalent to Japan's entire electricity consumption.