Voter fury emerges over skyrocketing electricity bills as AI stokes demand — and fears of a stock market bubble
Source: muchnycrunchny
Voter fury emerges over skyrocketing electricity bills as AI stokes demand — and fears of a stock market bubble
Source: muchnycrunchny
22 Comments
The public often subsidizes data centers, as they are given tax breaks and bulk electric discounts.
Don’t worry, California demonstrates solar can save you from high energy prices.
Democrats have a supermajority in CA. This is the perfect time to flex an agenda to rein in Big Tech. Mean Tweets are only going to take us so far.
AI is a costly fad that will only serve to hurt humanity while the owner class wastes all of our resources looking for ways to avoid hiring qualified humans.
It’s ugly greed at its core. We should reject any company that embraces it in the pursuit of divesting from human labor.
As someone working in AI… it is absolutely a bubble. But hey, good thing the AI / hardware / cloud services companies are horizontally integrating with their funding announcements! We can all sink!
So this is why AI will take over humanity. It wants all the electricity.
Hey MAGA!!
How’s that lowering of grocery prices comin’ along? Now, now, chin up! At least you get to payoff all the debt for the tax cuts for billionaires!
LOL. Fucken’ chumps.
Turn on your Fox News and get back to chasing around after trans people!!
Costs are going up because of AI demand of electricity and the Trump administration wrecking our energy sector by destroying subsidies and programs meant to help fund energy needs.
It needs to be required that if companies uses excessive amounts of energy, they will pay a higher rate so that it does not affect residental rates.
Donald Trump gave Americans “the biggest tax cut in history.” They can use that money to pay their bills.
Not a financial person, but the stock market P/E in several sectors looks insanely high for a seemingly recession bound economy (#1 & #2). The ones that jump out to me as coupled to AI include Computer services, Drugs (Pharmaceutical), Oil/Gas (Production and Exploration), and Software (System & Application); drug research being an AI application, and Oil/Gas being AI energy (#3).
It also strikes me as curious that while the P/E for Oil/Gas (Production and Exploration) is about 126, Green & Renewable Energy is a relatively sane 36. Wouldn’t renewable energy powered AI systems be ideal providers for non-time critical computational demand customers like pharmaceutical R&D for new “wonder drugs”?
1) ‘Voter fury emerges over skyrocketing electricity bills as **AI stokes demand — and fears of a stock market bubble**’
2) ‘Meanwhile, concerns are growing over an AI bubble in stock markets. Mary Callahan Erdoes, CEO of JPMorgan’s asset and wealth management business, said at the Fortune Global Forum just weeks ago that some **AI stocks have “a little too much concentration.**”’
3) [https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/pedata.html](https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/pedata.html)
Computer Services: Current P/E = 436.84
Drugs (Pharmaceutical): Current P/E = 129.64
Green & Renewable Energy: Current P/E = 36.33
Oil/Gas (Production and Exploration): Current P/E = 125.94
Software (System & Application): Current P/E = 179.80
Total Market (without financials): Current P/E = 59.79
I don’t want to pay for some tech royalty to have cheap electricity.
Rest assured…the entire world knows the AI bubble with burst, the USD is going to devalue HARD, and we’re all betting for this. Your country of morons voted him in, reap what you sow.
Maybe Trump and the republicans should continue to cancel more of the sustainable energy projects. /s
I literally cannot afford heat, its 50 degrees in my apartment and getting lower. Disability discount is like 30 dollars. Utility company upon hearing Im disabled and cant pay said use less. So now I freeze. Caught pneumonia a couple years ago for the first time because of it
Why aren’t AI companies picking up the tab on the electricity costs? The AI companies should be in the same category as steel and aluminum mills that also use a lot of power. It seems that people in those areas don’t have huge energy bills as a result?
Why are the voters paying for it? This makes no logical sense.
Conditions are perfect.
Sam is the poster boy for ramping up global warming 100x
Remember these slime ball Tech Lords want tech bailout say no!
The more electricity customers, the cheaper the power.
Datacenters should bring electric prices down.
These AI billionaires are parasites.