Goldman Sachs sees AI boom as near-$1 trillion opportunity for renewable energy

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Goldman Sachs sees AI boom as near-$1 trillion opportunity for renewable energy

Goldman Sachs predicts that the increasing power demands of artificial intelligence will necessitate nearly $1 trillion in renewable energy investments in Europe and the US over the next decade. AI is projected to significantly boost electricity demand in data centers globally, with a 160% increase expected by 2030. The finance giant highlights that AI's impact on power consumption in Europe alone will be equivalent to the combined energy usage of the Netherlands, Portugal, and Greece.

The intersection of AI and renewable energy presents a massive opportunity for growth and innovation in the energy sector. Microsoft's recent deal to purchase 10.5GW of green power for its data centers underscores the increasing importance of sustainable energy sources in supporting AI infrastructure. As AI technologies continue to advance, the demand for clean energy solutions is set to surge, creating a lucrative market for renewable energy investments.

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