Global data center electricity consumption is skyrocketing far beyond earlier estimates, driven primarily by the relentless expansion of artificial intelligence (AI) infrastructure, with Goldman Sachs forecasting a massive boom in demand by 2023.
Unprecedented Growth Projections
According to new data from Goldman, highlighted by financial commentary platform The Kobeissi Letter, the worldwide appetite for data center power is on track to grow an astounding 220% from 2023 levels by the end of the decade.
This surge will push total consumption up by 905 terawatt-hours (TWh) to a record 1,350 TWh by 2030.
“The AI power boom is accelerating,” noted The Kobeissi Letter, reflecting on the urgency of the revised figures. This new forecast marks a steep increase from the previously anticipated 175% growth rate.
This dramatic revision to higher-than-expected AI server shipment projections and an industry-wide shift toward deploying highly power-intensive hardware is being attributed to complex AI processing.
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