AI Doubts Surge in U.S. Power Demand
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Business & Economics
US power stocks plummet as DeepSeek raises data center demand doubts
80% Informative
Shares of U.S. power, utility and natural gas companies sell off on Monday in some of the biggest recorded one-day drops.
Power producers were among the biggest winners in the S&P 500 last year on expectations of ballooning demand from the energy-guzzling data centers needed to scale Big Tech's artificial intelligence technologies.
Big Tech firms have devoted tens of billions of dollars in AI data center development over the last year .