Big Tech's AI ambitions pose a major power test for Europe
Big Tech companies are investing in Europe, driven by factors such as energy availability and talent pools. Data center operators are assessing their power requirements for the next decade, considering options like nuclear SMRs. The investment plans of companies like Nvidia, Anthropic, and Google are expected to have a significant impact on the region.
- ▪Data center operators are looking at their power requirements over the next 10 years to determine their operational feasibility.
- ▪No data center operator is willing to take the first-of-a-kind risk on SMRs due to the lack of operational examples outside China and Russia.
- ▪Several US AI companies, including Nvidia-backed Runway, Anthropic, and Google, are expanding their presence in London.
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Data center operators are looking at their power requirements over the next 10 years because "ultimately that is the driving force behind whether they can operate or not," Tania Arora, partner at Baker McKenzie's energy group, told CNBC in an interview."Many of them are looking at nuclear SMRs, but it is a challenge. No data center operator, in my view, will take first-of-a-kind risk on SMRs, and there are none currently operational at the moment outside China and Russia." Energy availability isn't the only driver behind Big Tech's investment in Europe. London's talent pool is another.Several U.S. AI companies that have recently announced big growth plans for London footprints.
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