Tech Giants' Energy Hunger Shown In Charts

A new report reveals that just six hyperscalers—Amazon, Microsoft, Google, Meta, Oracle, and Apple—now account for a significant share of U.S. load growth, with electricity demand at their AI-intensive data centers surging by more than 30% annually.

Before we dive into the UBS chart pack illustrating the demand growth, here's more context on what's driving the spike, as per the analyst Jon Windham: