Equinix Raises $15 Billion as AI Data Centers Drive Surge in US Power Demand

Oct 1, 2024, 04:34 PM

The rapid growth of AI data centers is driving a significant increase in power demand in the United States, raising concerns about its impact on climate goals. AI data centers are highly power-intensive, with some consuming more energy than entire cities. Current data centers account for 4.5% of US power supply, and this figure is projected to grow to 8% or above by 2030, according to the Electric Power Research Institute and estimates from JPMorganAM. In response to the growing demand, Equinix has raised $15 billion to expand its xScale data centers, particularly in the US. US data center construction has also reached a record high, with investments surpassing $28.5 billion annually, a 57% increase from last year.