AI’s surge is quickly becoming an energy story. Kim Inglis of Raymond James highlights that the infrastructure powering artificial intelligence is accelerating electricity demand at a pace that could reshape global energy markets. The IEA expects electricity demand to jump 40% by 2035, driven primarily by data centers and electric vehicles.

Data centers alone are projected to require power equivalent to all of Brazil’s current electricity consumption. AI training models and hyperscale server builds are turning energy into a strategic bottleneck. EVs add another strain: expected electricity usage matching what Russia consumes today. These comparisons underscore the scale of the shift. The demand isn’t incremental, it’s national-economy level growth.

The takeaway, Inglis says, is that AI investing can’t be viewed purely through a tech lens. The sector’s expansion is tethered to grids, utilities, and global power infrastructure. As AI accelerates, the winners may be as much in energy transformation as in silicon. Investors may need to track not just innovation cycles, but electricity supply curves.

Source: Video - AI’s Energy Appetite: The Power Surge Ahead