AI

Summary • AI is turning data center demand into a continuous power load, colliding with a US grid that has seen little capacity growth for two decades. • Chip production alone illustrates the scale: peak power for one year of AI accelerators could approach hundreds of GW, comparable to grid-level demand. • China holds a structural advantage with ~3× US capacity and 11× faster build rates, while the US faces supply and permitting bottlenecks. • US strengths in natural gas and nuclear are offs