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tech power demandTheStreet
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87% Informative
AI takes up a good chunk of the world’s energy — and it will be using even more in the coming years .
Average ChatGPT query consumes nearly 10 times as much electricity to process as a Google search.
Goldman Sachs Research estimated in a May study that data center power demand will grow 160% by 2030 .
Nuclear energy is being suggested as a way to meet the tech power demand.
RBC Capital analyst Christopher Dendrinos raised the firm's price target on GE Vernova to $ 262 from $ 246 .
He sees limited upside opportunity ahead of the November election and risk that is “largely to the downside” heading into earnings.
Offsetting the negatives, however could be the company's strong Power and Electrification performance and gas turbine orders that could be up significantly and will drive shares higher.
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