Is AI lacking chips? No, it's lacking electricity! Private equity giant Apollo: The energy gap will be hard to bridge in our lifetime.

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The biggest bottleneck facing the artificial intelligence revolution may not be chips, but electricity.

On October 22, according to media reports, Dave Stangis, an executive at private equity giant Apollo Global Management Inc, said that the huge energy gap facing AI development may not be bridged within our lifetime.

In an interview, he stated:

"There is a huge gap between the demand of artificial intelligence and the current capabilities of the global power grid in terms of generation and transmission, and this gap will not be bridged in our lifetime."

This statement directly points out that the fundamental constraint driving AI development is electricity. At the same time, he said that sustainable energy investors need to accept one reality: renewable energy alone is not enough to power the AI era.

In order to address the challenge of the electricity gap, the world is scrambling to add "every kind of energy source," which Stangis calls "energy addition." He emphasized that the primary task for the world now is "energy addition," not just focusing on "energy transition."

Meanwhile, he believes that although "energy addition" is needed to drive AI development, this does not mean abandoning clean energy, and that energy storage, transmission, and distribution capacity are equally key to success. Stangis said:

"Energy expansion is a fact, and I think energy transition is equally undeniable."

At the same time, Stangis believes that investing in clean energy and decarbonization technologies remains a profitable strategy. Since 2022, the company has committed or arranged about $60 billion in investments related to energy transition, infrastructure, and sustainability, already exceeding half of its target of achieving $100 billion in such investments by 2030.

Stangis said:

"I firmly believe in transition, and am looking for investment opportunities in industrial decarbonization, renewable energy, and everything around storage and the grid."

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