Meeting AI's Energy Demand Sustainably

The power demands of artificial intelligence are frequently framed as a threat to the world’s climate ambitions. In our view, that framing misses the point. The real question is whether AI’s energy needs can be met in a way that is sustainable in the fullest sense of the word: reliable enough to run around the clock, affordable enough to avoid a political backlash, and clean enough to reduce emissions intensity. The stakes for addressing these three challenges have made it a top priority for more and more countries around the world. And we believe the capital needed to do so represents one of the broadest investment opportunities in decades.