A frantic sell-off of energy and infrastructure shares this week after advances in artificial intelligence by Chinese start-up DeepSeek shows how little is understood about the power demands of AI, the International Energy Agency has warned.
Investors heavily marked down shares in companies ranging from European gas turbine makers to US power generators and infrastructure providers as DeepSeek’s surprise breakthrough suggested the development and use of AI may require less power than previously thought.
Companies hit included Siemens Energy, GE Vernova, Mitsubishi Heavy Industries, Constellation Energy, Vistra Energy, Schneider Electric, ABB and Legrand.
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