Summary of Key Points from the Conference Call Industry Overview - The conference call discusses the **U.S. data center power solutions** and the trend towards **800V power architecture** [1][2]. Core Insights and Arguments - **Power Demand Growth**: The peak power in the U.S. is projected to reach **800 GW** by **2024**, driven by data center construction and manufacturing reshoring. The annual peak load is expected to grow by approximately **2%**, equating to an additional **20 GW** each year [2][4]. - **Data Center Load Increase**: From **2025 to 2028**, the total additional load demand from data centers is estimated to be between **40 to 80 GW**, with a projected **67 GW** of new installed capacity by **2028** [4]. - **Energy Supply Structure Changes**: There has been a significant decline in coal power capacity (down by about **50%**), and a reduction in natural gas generation. In contrast, the share of unstable energy sources like wind and solar has increased, leading to a decrease in stable controllable power sources, which weakens grid stability [5][6]. - **Importance of Energy Storage**: Energy storage systems are deemed crucial for balancing supply and demand, capable of managing peak loads either independently or in conjunction with renewable sources [6][7]. The demand for high-quality energy storage solutions is intensifying [7]. - **NVIDIA's 800V Power Architecture**: NVIDIA emphasizes the importance of energy storage and solid-state transformers (SST) in its **800V power architecture**. This architecture is necessary due to the significant increase in power density and the need for stability in AI data centers [3][9]. Additional Important Content - **Storage System Functionality**: Energy storage systems can absorb surges during startup and release energy during low load periods, stabilizing the data center's external load profile and reducing the need for redundant transformer infrastructure [3][11]. - **Investment Recommendations**: Recommended investment targets include leading battery manufacturers and integrators such as **CATL**, **Sungrow Power**, **Hibiscus Technology**, and **EVE Energy**. Additionally, U.S. stocks like **Bloom Energy** and **Fluence Energy** are highlighted [8]. - **Challenges in Grid Connection**: The integration of energy storage can alleviate the bottleneck of grid connection approvals, which is a significant hurdle for AI factory deployments. By smoothing peak loads, data centers can present a more stable load to the grid, enhancing approval efficiency [11][12]. - **Future of Energy Supply**: The long-term solutions for meeting future energy demands include solid oxide fuel cells (SOFC), traditional gas turbines, and small modular reactors (SMR), with energy storage and gas turbines being the primary short-term solutions [6][12]. Conclusion - The U.S. data center industry is experiencing a significant transformation in power demand and supply dynamics, with a strong emphasis on energy storage solutions and advanced power architectures to ensure stability and efficiency in the face of growing energy needs.