Benzinga - by Anusuya Lahiri, Benzinga Editor.
Amazon.Com Inc (NASDAQ:AMZN) is making a push into nuclear energy by acquiring a nuclear-powered data center in Pennsylvania, marking its first-ever agreement with a nuclear power facility.
This strategic move by Amazon Web Services aims to secure electricity from the Susquehanna nuclear power station under a decade-long agreement and highlights the tech giant’s venture into clean, carbon-free energy.
Amid growing public support for nuclear energy and a pledge by 22 countries at COP28 to triple atomic generation by 2050, Amazon’s initiative signals a potential shift in the energy consumption patterns of Big Tech, notorious for its substantial power demands primarily driven by data centers, AI, and cryptocurrencies, the Financial Times reports.
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Amazon’s move is part of a more significant trend among tech giants, including Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, seeking to diversify their energy mix with clean and stable power options like nuclear energy, which offers 24-hour baseload power without the emissions or commodity price risks associated with fossil fuels.
Microsoft has already invested in nuclear power fueled by artificial intelligence and supercomputing endeavors. The company’s approach focuses more on nuclear fission to release energy.
Andy Jassy, CEO of Amazon, underlined the transformative potential of generative AI in improving customer experiences across Amazon’s enterprise and consumer businesses.
He had expressed confidence that generative AI would greatly enhance Amazon’s ability to predict customer preferences.
One notable area where generative AI could bring about improvement is Amazon’s virtual assistant, Alexa, as per Jassy.
Investors can gain exposure to Amazon via Vanguard Consumer Discretion ETF (NYSE:VCR) and Fidelity MSCI Consumer Discretionary Index ETF (NYSE:FDIS).
Price Action: AMZN was up 2.05% to $175.50 on the last check Tuesday.
Also Read: Amazon’s AWS Pushes AI Boundaries With New Chips And Nvidia Partnership
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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