financetom
Business
financetom
/
Business
/
Data centers will likely provide boost to nuclear energy, says Cameco CEO
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Data centers will likely provide boost to nuclear energy, says Cameco CEO
Apr 30, 2024 10:41 AM

By Mrinalika Roy

April 30 (Reuters) - Uranium miner Cameco Corp's ( CCJ )

chief executive said on Tuesday projected demand from

data centers powering technology like generative AI will likely

be a boost for nuclear energy.

Over the past year, big technology companies have been

racing to build data centers needed to power applications such

as OpenAI's viral chatbot, ChatGPT, as they try to capitalize on

what is expected to be the industry's next key growth driver.

Chatbots like ChatGPT require about 10 times the energy as a

Google search.

"Gone are the days of rolling out new technology without

worrying about future potential runway environmental impacts.

Companies driving the technology forward are doing so while

keeping carbon footprint and 24/7 reliability top of mind ...

nuclear is the clear winner," CEO Timothy Gitzel said during a

post-earnings call.

Many industrial power users and tech sector experts are

signing agreements to ensure their facilities can access

zero-carbon and reliable nuclear energy now and into the future,

he said.

Overall, power use from the thousands of giant computing

warehouses that comprise data centers is expected to triple

globally from less than 15 terawatt-hours (TWh) in 2023 to 46

TWh this year, according to Morgan Stanley Research.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SouthState Q3 Adjusted Earnings Rise, Revenue Lower
SouthState Q3 Adjusted Earnings Rise, Revenue Lower
Oct 26, 2024
05:35 PM EDT, 10/23/2024 (MT Newswires) -- SouthState ( SSB ) reported Q3 adjusted earnings late Wednesday of $1.90 per diluted share, up from $1.62 per share a year earlier. Analysts polled by Capital IQ expected $1.64. Revenue, expressed as the sum of net interest income and total noninterest income, for the quarter ended Sept. 30 fell to $426.4 million...
Tyler Technologies lifts full-year outlook as cloud shift drives IT demand
Tyler Technologies lifts full-year outlook as cloud shift drives IT demand
Oct 26, 2024
Oct 23 (Reuters) - Tyler Technologies ( TYL ) raised its full-year revenue and profit forecast and surpassed Wall Street's third-quarter profit expectations, fueled by strong demand for its IT services. The recent trend of public sector clients shifting enterprise workloads from internal data centers to the cloud has boosted revenue for IT providers like Tyler Technologies ( TYL )....
Viking Therapeutics Q3 Loss Narrows -- Shares Rise After Hours
Viking Therapeutics Q3 Loss Narrows -- Shares Rise After Hours
Oct 26, 2024
05:39 PM EDT, 10/23/2024 (MT Newswires) -- Viking Therapeutics ( VKTX ) reported a Q3 net loss late Wednesday of $0.22 per diluted share, compared with a loss of $0.23 a year earlier. Analysts polled by Capital IQ expected a $0.25 per share loss. No revenue was reported for the quarter ended Sept. 30, as expected. The company held cash,...
--First American Financial Reports Repurchase of 1.1 Million Shares Year-to-date for $60 Million
--First American Financial Reports Repurchase of 1.1 Million Shares Year-to-date for $60 Million
Oct 26, 2024
05:43 PM EDT, 10/23/2024 (MT Newswires) -- Price: 69.14, Change: +5.34, Percent Change: +8.37 ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved