Templeton Emerging Markets sees AI power demand driving infrastructure investment opportunities
QQQ•Templeton Emerging Markets said rising electricity demand from AI could create investment opportunities in power generation, grid infrastructure and data-center cooling. Global data-center electricity use could reach 945 terawatt-hours by 2030, while US data centers could consume 9% to 17% of electricity, estimates cited in the brief show.
1. Rising power demand
AI-driven electricity demand is broadening potential investment opportunities beyond semiconductors into power generation, grid infrastructure and data-center cooling. Global data-center electricity consumption could rise to 945 terawatt-hours by 2030 from about 415 TWh in 2024, International Energy Agency estimates show.
2. Grid and stock selection
Data centers could account for 9% to 17% of US electricity use by 2030, compared with roughly 4% to 5% currently, EPRI estimates show. Concentrated demand from large computing campuses could constrain grid capacity and increase investment needs for generation and electricity delivery. The brief said elevated valuations and concerns about AI investment returns favor selective stock picking focused on fundamentals and sustainable earnings.
