3 Energy Stocks to Buy Amid an AI Electricity Surge

Industry Insights - The demand for electricity is projected to double by 2030 due to the explosive growth of artificial intelligence, with AI tasks requiring approximately ten times the electricity of traditional internet searches [1] - The World Economic Forum indicates that achieving a tenfold improvement in AI model efficiency could lead to a surge in computational power demand by up to 10,000 times, with AI's energy consumption growing at an annual rate of 26% to 36% [1] - By 2028, AI could consume more power than Iceland did in 2021, highlighting the significant energy requirements associated with AI advancements [1] Company Highlights - Digital Realty Trust (DLR) is positioned to benefit from the AI boom, with a yield of 3.36% and a projected 15% CAGR in data center demand through 2030 according to Goldman Sachs [3] - AES, a Virginia-based utility, forecasts that data centers could account for up to 7.5% of total U.S. electricity consumption by 2030 [4] - First Solar (FSLR) has seen its shares rise from approximately $180 to a high of $286.60, with analysts from UBS and Piper Sandler reiterating buy ratings and raising price targets due to its direct benefits from AI's energy demands [5][6] - Enbridge (ENB) is expected to see increased demand for power generation from AI and data centers, with a current yield of 7.33% and a target price of $40 per share [6][7]