Just a few years ago, tech companies were minor players in energy, but are now changing the face of the U.S. power industry and are morphing into some of the sector’s most dominant players, Ivan Penn and Karen Weise of The New York Times reports. With the rise of AI, tech companies are becoming even more involved in the sector, with Amazon (AMZN) CEO Andy Jassy recently noting the “single biggest constraint” of AI is power. The AI boom, however, threatens to increase power bills for residents and small businesses across the country since data centers will require expensive upgrades to the electric grid. Other big tech companies in the sector include Microsoft (MSFT), Meta (META), and Google (GOOGL).
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