Investor Kevin O’Leary said America’s growing power constraints could create a lucrative investment opportunity as artificial intelligence, data centers and cloud computing drive electricity demand higher.
O’Leary Bets on Cheap Power for AI
On Monday, in a post on X, O’Leary argued that the AI boom is shifting attention toward one of the technology industry’s most critical inputs: reliable, affordable electricity.
"America’s power shortage is creating a major investment opportunity," he said.
He pointed to AI, data centers, cloud computing and digital payments as industries that depend on access to reliable, low-cost energy.
"That’s why my investment thesis is simple, show me the power," O’Leary said.
He highlighted Bitzero as a company he believes could benefit from the trend because of its access to power priced below 6 cents per kilowatt-hour.
Lawmakers Target AI Data Center Costs
Earlier, Rep. Ro Khanna (D-Calif.) warned that AI data centers were burdening local communities with higher infrastructure and environmental costs.
He backed giving communities more control over projects and raised concerns about pollution, water use and private power generation.
Mark Cuban said opposition to data centers reflected broader fears over AI, job losses and wealth concentration, calling the facilities a "proxy for the hate towards AI." He urged AI companies to work more closely with affected communities.
Sen. Elizabeth Warren (D-Mass.) warned that AI data centers could raise household electricity costs, saying a single facility could use as much power as 100,000 households.
She argued that Big Tech should cover infrastructure upgrade costs rather than consumers.
AI Boom Drives Data Center Power Demand
Space Exploration Technologies Corp. (NASDAQ:SPCX) Vice President Stephanie Bednarek said orbital AI data centers could help overcome land, cooling and power constraints by using abundant solar energy
SpaceX was also developing mass-producible AI satellites based on its Starlink technology.
Bloom Energy CEO K.R. Sridhar said the company was focused on controlling costs, quality and availability rather than predicting the duration of the AI boom.
Bloom was expanding onsite power systems and manufacturing to meet rising data center demand.
Meanwhile, Goldman Sachs projected global data center electricity consumption would increase 220% from 2023 levels by 2030, reaching 1,350 TWh, as AI infrastructure and power-intensive computing accelerated.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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