Japanese Conglomerate Invests For AI Electricity Demand

AI energy use will strain US demand to the breaking point, bringing the largest investors into the industry. They believe they can make billions of dollars by providing supply. Most recently, huge Japanese conglomerate and investor Softwbabnk said it would enter the market. Reuters reported, “Japan’s SoftBank Group will ramp up its power generation business primarily in the United States to supply power to generative artificial intelligence projects worldwide, founder Masayoshi Son.”  Softbank has been among the largest tech company investors worldwide for years. It has supported hundreds of companies via its venture capital arm. Not all have been successful. Strings of failures have affected its earnings more than once

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Softbank is not the only company that sees electricity for AI as an opportunity. Google has, as well. Semafor said, “Google revealed last week that it had signed a first-of-its-kind deal involving the Nevada utility NV Energy and the geothermal power startup Fervo. The Nevada deal is an untested iteration on the traditional power purchase agreement (PPA), a type of clean power contract that Google also pioneered nearly a decade ago.”

Climatecrisis247 believes that private companies are doing what utilities and the government have not. Electricity from fossil fuels and delivery over the old US grid could not provide enough power for new AI applications. These decisions will help the AI industry and will be profitable for new energy providers.

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