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To give a sense of the magnitude of this demand, data center electricity use is expected to more than double by 2030[1], largely driven by technology companies such as Microsoft, Google and Amazon seeking to develop leading edge AI applications. In fact, data centers are forecast to drive more than a third of the 2.5% p.a. in U.S. power demand growth from 2022-2030, according to Goldman Sachs. [1] Goldman Sachs Investment Research - Generational growth: AI, data centers and the coming US power demand surge. 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