The biggest constraint on artificial intelligence may no longer be chips. It may be electricity.
That shift could create an unusual opportunity for investors. The next winners from the AI boom may look less like Nvidia and more like traditional utility companies.
BCA Research indicates that the world is entering an “Age of Electricity,” with global electricity consumption expected to rise roughly 40% by 2035.
But the research firm’s most important point is where that electricity bottleneck sits.
“The bottleneck is the grid, not power generation,” according to a recent report from BCA Research.
