Apollo Management(US:APO) Hua Er Jie Jian Wen·2025-10-23 05:45Core Insights - Apollo Global Management's executive warns of a significant gap between the energy demand driven by artificial intelligence (AI) and the current global electricity supply, suggesting this gap may never be bridged within our lifetime [1] - The investment community is shifting from an "energy transition" mindset to a more urgent "energy increment" approach, recognizing that renewable energy alone cannot meet the demands of the AI era [2] Group 1: Energy Increment Reality - The current situation is characterized as "energy increment," necessitating a substantial increase in overall energy supply to meet the explosive demand from AI data centers [2] - Apollo has committed or arranged approximately $60 billion in investments related to energy transition, infrastructure, and sustainability since 2022, exceeding half of its $100 billion investment target by 2030 [2] Group 2: Investment Strategy and Standards - Apollo has developed its own classification standards for guiding investments, which provide a competitive advantage through in-depth analysis of industries and technologies [3] - A project is considered a "transition deal" if a significant portion of its revenue is related to transition activities or has designated transition financing [3] Group 3: Political Environment and Investment Opportunities - Despite political changes affecting renewable energy investments in the U.S., the overall investment opportunities remain robust, with trillions of dollars still available [4] - Major financial firms continue to view low-carbon transition as a powerful trend, with significant funds raised for investments in this area [4] Group 4: Balancing Perspectives - The transition to low-carbon energy is underway and unstoppable, but the urgent need for energy to fuel the AI boom means that more energy is required [5] - Key drivers for success will include energy storage, transmission, and distribution capabilities [5]