Home Sports Bloom Energy Corporation (BE): Wells Fargo Maintains ‘Hold’ Amid Q3 Miss and Uncertainty in AI Data Center Market Opportunities

Bloom Energy Corporation (BE): Wells Fargo Maintains ‘Hold’ Amid Q3 Miss and Uncertainty in AI Data Center Market Opportunities

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Bloom Energy Corporation (BE): Wells Fargo Maintains ‘Hold’ Amid Q3 Miss and Uncertainty in AI Data Center Market Opportunities

We recently compiled a list of the Ten headlines about artificial intelligence that are causing a sensation today. In this article, we’ll take a look at where Bloom Energy Corporation (NYSE:BE) stands against other AI stocks making waves.

According to the “Hyperscale Data Centers – Global Strategic Business Report”, the global hyperscale data center market is estimated to reach $730.2 billion by 2030, growing at a CAGR of 23.1% from 2023 to 2030. From the growing adoption of cloud services In addition to the rise of big data and artificial intelligence, several factors come into play when it comes to its rapid growth. According to the report, the biggest driver is cloud computing, with more and more companies migrating their workloads to the cloud to reduce costs, improve scalability and flexibility.

READ ALSO: 10 Trending AI Stocks Based on Latest News and Analyst Ratings and 8 Best IT Services Stocks to Invest in Now

These hyperscalers require a lot of power to run their data centers 24 hours a day. According to McKinsey & Company, data center power needs are expected to grow three times as much as current capacity by the end of the decade, to between 3 and 4 percent of total U.S. energy demand. . today to between 11 and 12 percent in 2030. , the energy sector has become a major player in AI. Several technology companies are studying nuclear energy, including the use of small modular reactors (SMR), to meet their electricity needs.

“Driven by recent trends in AI development, projected energy consumption by data centers in the US is expected to increase in the range of 8% to 17% by 2030, or potentially even more,” since progress in AI technologies is not linear but exponential. as seen today in Silicon Valley.”

As demand for advanced computing power grows, the latest advances in AI are reshaping industries and driving innovation at an unprecedented pace. On the other hand, nothing is perfect. A few days ago, OpenAI’s main chatbot, ChatGPT, went down for a total of 30 minutes. According to outage tracking website Downdetector, more than 19,000 people were affected due to the chatbot’s unavailability. Sam Altman, the CEO, admitted to the disruption at X and apologized.

The same company is said to have hit roadblocks recently. This is because, according to Bloomberg, its latest Orion model has not performed as well as developers had hoped. OpenAI, however, is not the only company apparently facing stagnation. Three leading AI companies are now seeing diminishing results from their costly efforts to build newer models.

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