9 top US electric utilities forecast major power demand increase from data centers due to generative AI and revise capital expenditure plans.

U.S. electric utilities expect a significant increase in power demand from data centers, driven by technology such as generative AI. Nine of the top 10 U.S. electric utilities identified data centers as a major growth driver, leading them to revise up capital expenditure plans and demand forecasts. This surge in demand is expected to happen faster than in previous decades, according to experts.