Theme Overview
AI is driving the most significant electricity demand surge in developed economies since the industrial revolution. A single ChatGPT query consumes roughly 10x the electricity of a Google search. Training a large language model like GPT-4 requires energy equivalent to powering 1,000 homes for a year. Major hyperscalers (Microsoft, Google, Amazon, Meta) are projecting 30-50% data center capacity growth annually, requiring massive new power generation and grid infrastructure. This is already reversing decades of flat US electricity demand growth and creating bottlenecks in natural gas supply, grid interconnection queues, and copper/aluminum for power delivery. Nuclear power is emerging as the preferred 24/7 carbon-free solution, with Microsoft's Constellation deal and Google's Kairos partnership signaling a nuclear renaissance driven by AI.