Wall Street banks are in a frenzy over 'The Next AI Trade,' piling into the 'Powering up America' investment themes, whether that's power grid companies, commodities, such as copper, gold, silver, and uranium, and artificial intelligence chipmakers, to accommodate the explosion of generative artificial intelligence data centers anticipated nationwide through the end of the decade and beyond.
Back to JPM's note, authored by analyst William Yang and his team, which near the end explained, 'While data centers have been scrutinized for heavy electricity use, the water intensive nature of their operations has been comparatively overlooked.' Citing data from Bluefield Research, Yang said total water consumption by global data centers including on-site cooling and off-site power generation has grown 6% annually from 2017 to 2022.