Utilities executives and industry experts argue that fears of a data center slowdown are overblown, particularly because projects delayed in one state could move to other regions such as Louisiana or Oklahoma. Goldman Sachs sees only a modest risk to artificial intelligence investment and maintains its forecast of roughly $1.4 trillion in AI hardware spending by the end of next year. Electricity demand is also expected to keep rising because of electric vehicles, reshored manufacturing and the broader electrification of the economy, according to the executives surveyed. William Blair recommends First Solar, while Barclays favors NiSource and Xcel Energy; in oil and gas, Bernstein likes ExxonMobil and Expand Energy, while Piper Sandler recommends Cheniere Energy.
Source: Read the original article
