What might halt America’s artificial intelligence boom? There are many potential candidates. One is swelling anti-tech populism: a new survey shows 58 per cent of Americans do not trust AI.
Excess leverage is another: AI-linked firms are not just gobbling up oodles of private credit but plan to issue a record $450bn in bonds this year, according to the Institute of International Finance. A third risk is that cheaper, better forms of AI will usurp the costly, proprietary large language models beloved of Silicon Valley.
But there is also a fourth, more humdrum issue: electricity. If the AI boom keeps accelerating, global electricity demand for data centres is projected to double by 2030, with even bigger jumps in the US and China.
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