Shocking stat of the day: Data center energy consumption has reached a record 5% of total US power demand. This increase has been driven by the rapid adoption of digitalization and AI technologies. This percentage is now estimated to more than DOUBLE over the next 5 years, according to McKinsey. Additionally, data center load is set to account for up to 40% of net new demand added until 2030. Overall, electricity demand for data centers is expected to grow at a compounded annual growth rate of +23% through 2030. Energy will soon be the AI bottleneck.(The Kobeissi Letter)