CEO Mike Mike Interator of Coreweave discussed its acquisition of core scientific, investment of $ 6 billion at a data center in Lancaster, Pennsylvania, demanding artificial intelligence and ‘dawn with Maria’.
First on Fox Business – A new White House study warns that electricity prices can be the reason artificial intelligence Demand if the United States does not promote energy production.
The White House Council of Economic Advisors are expected to release a report on Thursday, which found that energy requirements for AI data centers will exceed the total energy consumed by many areas to create some construction products.
“The International Energy Agency (IEA) estimates that by 2030, the US data center will consume more power than the production of aluminum, steel, cement, chemicals and all other energy-intensive goods,” according to a copy of the report received by Fox Business.
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The White House Council of Economic Advisors warned a new study that the US Energy has made a major hold to meet the AI’s demand. (Kevin Carter / Getty Images / Getty Images)
The report also warns that the US is losing energy race with China.
The report states that China currently produces almost double power than the United States and is investing aggressively in nuclear power. Based on these investments, China is projected to become the largest nuclear power manufacturer in the world by 2030. ,
“If half of us are engaged in widespread use of AI by 2034, the annual productivity growth of labor may be 1.5 percent higher in 2034, otherwise it will be without comprehensive AI adoption. This boost in labor productivity may increase GDP growth in 2034, increase GDP growth by 0.4 percent.” “To effectively compete effectively for AI dominance, the United States must focus on rapid growth of low -cost domestic baseload generation. The US growth in power generation has reached close to zero in the last 20 years, while China’s generation has expanded at an annual rate of 5 to 10 percent or more.”
According to the White House Council of Economic Advisors, “The increase in demand for AI and Cloud Computing capabilities is already increasing the use of electricity in the United States. After two decades of development less than one percent per year, power demand increased by two percent in 2024.”
The owner of the Three Mile Island Nuclear Plant in Midletown, Penn, will invest $ 1.6 billion to revive it, which agrees to sell Microsoft Corp to all outputs. (Through Heather Khalifa / Bloomberg Getty Image / Getty Image)
The council estimates that the US will need to invest approximately $ 1.4 trillion between 2025 and 2030 with the demand for rising electricity.
“Once the industrial electrification and manufacturing revival of industrial electrification and manufacturing is added to high demand, the total increase in power demand will require an estimated $ 1.4 trillion investment between 2025 and 2030 to increase the total increase in power demand.” “Constant electrification of the economy and restarting energy-intensive manufacturing will contribute to the additional power demand for electricity.”
The Mount Storm coal-based power station owned by Dominion Energy is seen on 30 June, 2025 in Mount Storm, West Virginia. (Yulis Belier / AFP through Getty Image / Getty Image)
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Without new investment in energy, the council found that the price will increase anywhere between 9% and 58%.
The report said, “Using elasticity projections from economic literature, power prices in 2030 can resulting from high demand for electricity to 9 to 58 percent if low -cost providers do not come online,” the report states.
This is a developing story. Please check back for updates.
