The rise of artificial intelligence (AI) has sparked a seismic shift in how nations and industries view energy. Once seen as just another utility, energy is now being called the most valuable resource on Earth, fueling the infrastructure that powers AI innovation. According to a recent analysis by The Kobeissi Letter, the United States now hosts 5,426 data centers — more than all other major countries combined — and is constructing additional facilities worth $40 billion, marking a 400% increase since 2022. For the first time in history, the total value of ongoing data center construction in the U.S. will surpass that of office buildings — a telling sign of how rapidly the digital economy is replacing traditional industries. Analysts are calling this phenomenon “the modern gold rush.”
Since the launch of ChatGPT in late 2022, the demand for computational infrastructure has skyrocketed. The total value of U.S. data centers under construction jumped from $12 billion to $40 billion, reflecting the insatiable hunger for data processing capacity. This boom comes with an equally sharp rise in energy consumption. By 2030, data centers in the United States are expected to consume around 8.1% of the nation’s total electricity, up from 3.9% in 2023. Investment bank Morgan Stanley predicts a power shortfall of 36 gigawatts within the next three years — roughly equivalent to the output of 30 large nuclear reactors.
Yet, the U.S. isn’t alone in this race. While China has only about 449 data centers, its total energy consumption from these facilities is nearly on par with the U.S. — 12 GW compared to America’s 14 GW. The reason is simple: Chinese data centers are larger and more energy-intensive, reflecting the country’s centralized infrastructure strategy. Energy consumption per capita in China has already reached levels comparable to the European Union, growing by 350% since 2000. Analysts warn that as nations compete to dominate AI, energy security and innovation in power generation will define the next decade.
The surge in AI infrastructure has also led to soaring energy costs. Since ChatGPT’s debut, electricity prices in the U.S. have risen by 23%, and by 40% since 2020 — far outpacing inflation. The Kobeissi Letter argues that without massive new energy investments, the AI revolution could stall before reaching its full potential. The publication points to nuclear energy as a key solution, noting that unlike solar or wind, nuclear plants provide constant, 24/7 power — essential for uninterrupted AI operations. However, nuclear expansion in the U.S. remains sluggish, with no new major reactors under construction, while China is building 29 reactors simultaneously.
According to analysts, the world’s data centers will consume about 1,600 terawatt-hours (TWh) of electricity by 2035, representing roughly 4.4% of global energy supply. In a letter to the White House Office of Science and Technology Policy, OpenAI warned that without aggressive investment in energy infrastructure, the U.S. risks falling behind in the AI race. The company described electricity as a “strategic asset” vital for sustaining the world’s most transformative technology. As OpenAI put it, “Electrons are the new oil.”
Conclusion:
The explosion of AI has turned energy into the currency of progress. As data centers multiply and computational demands soar, energy is no longer a background concern — it’s the backbone of innovation. Nations that secure abundant, clean, and reliable energy sources will lead the next technological revolution, while others risk being left behind in the dark. The future of AI isn’t just about algorithms or chips — it’s about power.
