Berkshire Sees AI Data Centers Driving 8% of Iowa Power Demand as BHE Expands Capacity
Updated
Updated · The Motley Fool · Sep 2
Berkshire Sees AI Data Centers Driving 8% of Iowa Power Demand as BHE Expands Capacity
3 articles · Updated · The Motley Fool · Sep 2
Summary
Greg Abel said Berkshire’s clearest AI opportunity is supplying electricity to data centers through Berkshire Hathaway Energy, with data centers already accounting for 8% of Iowa demand last year.
BHE is positioning for that load with 32,400 net megawatts of generation capacity in operation or under construction and a planned $33.5 billion spend through 2026 on generation, storage and transmission.
Abel said Berkshire is willing to work with hyperscalers only if new projects do not raise rates for existing customers and instead deliver a benefit, reflecting growing scrutiny of data-center power use.
The push helps explain Berkshire’s heavier energy exposure, including Chevron and Occidental stakes worth about 9.4% of its $360 billion stock portfolio, alongside its large Alphabet investment.