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Stock impact report

AI could drive a natural gas boom as power companies face surging electricity demand [CNBC]

EQT Corporation (EQT) 
Last eqt corporation earnings: 2/27 06:30 am Check Earnings Report
Company Research Source: CNBC
After a decade of flat power growth in the U.S., electricity demand is forecast to grow as much as 20% by 2030, according to a Wells Fargo analysis published in April. Power companies are moving to quickly secure energy as the rise of AI coincides with the expansion of domestic semiconductor and battery manufacturing as well as the electrification of the nation's vehicle fleet. AI data centers alone are expected to add about 323 terawatt hours of electricity demand in the U.S. by 2030, according to Wells Fargo. The forecast power demand from AI alone is seven times greater than New York City's current annual electricity consumption of 48 terawatt hours. Goldman Sachs projects that data centers will represent 8% of total U.S. electricity consumption by the end of the decade. The surge in power demand poses a challenge for Amazon Google Microsoft and Meta . The tech companies have committed to powering their data centers with renewables to slash carbon emissions. But solar and wind Show less Read more
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