Morgan Stanley analysts warned of a challenge to the electric vehicle industry's push to reduce CO2 emissions: the surging power demands of data centers.
This includes a 105% CAGR for power used by Generative Artificial Intelligence from 2023 through 2027. Extrapolating this growth, Morgan Stanley estimates US data centers could consume nearly 450 TWh by 2030, representing a significant chunk of the total US power grid. This translates to a significant near-term impact. Morgan Stanley estimates the 2023-2027 increase in US data center power usage is equivalent to adding 59 million EVs – a 21% jump in total US vehicles.
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