成堆芯片只能在仓库“吃灰”！AI“电老虎”遭遇电网“老骨头”：美国缺电搅动全球资本市场

Core Insights - The frequent power outages in Seattle highlight a significant issue in the U.S. energy infrastructure, exacerbated by the rising demand for electricity driven by AI technologies [1][2] - Microsoft CEO Satya Nadella acknowledged that the company has a surplus of GPUs that remain unused due to power shortages, indicating a broader challenge faced by tech companies [1][2] - The increasing energy consumption of AI models, such as OpenAI's "Orion," is straining the existing power grid, which is already aging and underfunded [1][2][3] Power Shortage Dilemma - The U.S. power grid is rated C+ by the American Society of Civil Engineers (ASCE), with 70% of transformers exceeding their 25-year design life, leading to insufficient backup capacity [2][3] - AI data centers exhibit "pulse-like" power demands during model training, causing voltage fluctuations that the current grid is ill-equipped to handle [2][3] - The average outage duration for U.S. users is projected to reach 662.6 minutes in 2024, an increase of 80.74% year-over-year, with states like Virginia and Texas experiencing even longer outages [3] Paths to Resolution - The global demand for data center electricity is expected to reach 945 terawatt-hours by 2030, more than doubling from 2024 levels [3][6] - Major tech companies are exploring various solutions, including gas turbines, energy storage systems, nuclear power, and relocating computing power overseas to mitigate the energy crisis [6][7][9] - The U.S. faces significant delays in upgrading its power infrastructure due to regulatory hurdles, with transmission projects often taking years to complete [6][7] Investment Opportunities - UBS predicts that by 2030, annual investments in power generation, storage, grid upgrades, and data centers will reach $3 trillion, indicating a shift in focus towards energy as a strategic resource [23][24] - The demand for gas turbines and energy storage solutions is expected to rise sharply, with companies like General Electric and Siemens reporting increased orders [9][10][11] - The energy landscape is evolving, with power becoming a critical driver of future industries, akin to oil in the past [23][24]