Berkshire Hathaway CEO: Large-Scale Data Center Construction Will Bring Huge Growth Opportunities to Utilities

05/03 03:50

On May 3, Berkshire Hathaway CEO Greg Abel stated at the annual shareholders' meeting that the company has maintained a cautious stance on the use and management of artificial intelligence, contrasting sharply with other CEOs who are actively reshaping or repackaging their businesses around AI. Abel said, "AI must create incremental value for our business. We will not use AI for the sake of AI." He noted that Berkshire will deploy AI with a narrower focus aimed at creating real value. He also pointed out that this technology poses certain risks to "human society," and the company will consider these factors as it advances. The construction of data centers and the electricity demand they bring to the grid are presenting significant growth opportunities for utility companies. Energy demand is still far below peak load capacity. Berkshire Hathaway held its annual shareholders' meeting on May 2, marking the first meeting since Warren Buffett handed over the CEO role to Greg Abel earlier this year. Prior to the meeting, Berkshire's latest financial report indicated that its cash reserves have reached a record high of nearly $400 billion.
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