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On Fri, 13 Dec, 8:09 AM UTC
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Canada proposed $15 billion incentive to boost AI green data centre investment, Globe and Mail reports
(Reuters) - Canada's federal government has considered making up to $15 billion available as an incentive to encourage major domestic pension funds to invest in AI data centres powered by green energy, the Globe and Mail reported on Thursday. Ottawa floated the proposal in private consultation with pension funds as part of a suite of potential measures in consideration to be included in its fall economic statement, the report added citing sources with knowledge of the discussions. Artificial intelligence tools such as OpenAI's ChatGPT depend on chips and energy. But a $1 trillion rush to build data centres faces constraints on planning and power globally. Last month, utilities, power regulators and researchers in a half-dozen countries told Reuters the surprising growth in power demand driven by the rise of AI and cloud computing is being met in the near-term by fossil fuels like natural gas, and even coal, because the pace of clean-energy deployments is moving too slowly to keep up. (Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)
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Canada proposed $15 bln incentive to boost AI green data centre investment, Globe and Mail reports
Dec 12 (Reuters) - Canada's federal government has considered making up to $15 billion available as an incentive to encourage major domestic pension funds to invest in AI data centres powered by green energy, the Globe and Mail reported on Thursday. Ottawa floated the proposal in private consultation with pension funds as part of a suite of potential measures in consideration to be included in its fall economic statement, the report added citing sources with knowledge of the discussions. Artificial intelligence tools such as OpenAI's ChatGPT depend on chips and energy. But a $1 trillion rush to build data centres faces constraints on planning and power globally. Last month, utilities, power regulators and researchers in a half-dozen countries told Reuters the surprising growth in power demand driven by the rise of AI and cloud computing is being met in the near-term by fossil fuels like natural gas, and even coal, because the pace of clean-energy deployments is moving too slowly to keep up. Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Climate & EnergyClimate ChangeClimate Solutions
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Canada proposed $15 billion incentive to boost AI green data centre investment: reports
Ottawa floated the proposal in private consultation with pension funds as part of a suite of potential measures in consideration to be included in its fall economic statement, the report added citing sources with knowledge of the discussions.Canada's federal government has considered making up to $15 billion available as an incentive to encourage major domestic pension funds to invest in AI data centres powered by green energy, the Globe and Mail reported on Thursday. Ottawa floated the proposal in private consultation with pension funds as part of a suite of potential measures in consideration to be included in its fall economic statement, the report added citing sources with knowledge of the discussions. Artificial intelligence tools such as OpenAI's ChatGPT depend on chips and energy. But a $1 trillion rush to build data centres faces constraints on planning and power globally. Last month, utilities, power regulators and researchers in a half-dozen countries told Reuters the surprising growth in power demand driven by the rise of AI and cloud computing is being met in the near-term by fossil fuels like natural gas, and even coal, because the pace of clean-energy deployments is moving too slowly to keep up.
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Canada's federal government is contemplating a $15 billion incentive to encourage major domestic pension funds to invest in AI data centers powered by green energy, aiming to boost sustainable AI infrastructure.
In a significant development for the artificial intelligence (AI) sector, Canada's federal government is considering a substantial financial incentive to promote sustainable AI infrastructure. The proposal, which could see up to $15 billion made available, aims to encourage major domestic pension funds to invest in AI data centers powered by green energy 1.
The Canadian government floated this proposal during private consultations with pension funds, as part of a broader set of potential measures being considered for inclusion in the fall economic statement. This information comes from sources familiar with the discussions, as reported by the Globe and Mail 2.
The proposal comes at a crucial time when the demand for AI infrastructure is skyrocketing. Artificial intelligence tools, such as OpenAI's ChatGPT, rely heavily on advanced chips and substantial energy resources. The global rush to build data centers, estimated at around $1 trillion, is facing significant constraints in terms of planning and power availability 3.
Recent reports have highlighted a concerning trend in the energy sector's response to the growing power demands of AI and cloud computing. Utilities, power regulators, and researchers from multiple countries have indicated that this surge in demand is currently being met primarily by fossil fuels, including natural gas and even coal. This reliance on non-renewable energy sources is attributed to the slower pace of clean energy deployment, which is struggling to keep up with the rapid growth of AI infrastructure needs 1.
By proposing this significant incentive, Canada is positioning itself at the forefront of sustainable AI development. The initiative not only addresses the pressing need for AI infrastructure but also aligns with global efforts to combat climate change. If implemented, this proposal could serve as a model for other countries seeking to balance technological advancement with environmental responsibility.
This proposed incentive could have far-reaching implications for both the AI industry and Canada's pension fund landscape. For the AI sector, it promises a boost in infrastructure development, potentially accelerating innovation and research. For pension funds, it presents an opportunity to invest in a rapidly growing sector while supporting sustainable technologies, potentially offering both financial returns and positive environmental impact.
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Cohere Inc., an AI startup backed by Nvidia, partners with CoreWeave to construct a massive data center in Canada. The project receives significant financial support from the Canadian government as part of its AI strategy.
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OpenAI, the company behind ChatGPT, has proposed a bold plan to construct enormous AI data centers, potentially consuming as much as 5 gigawatts of power. This initiative has raised questions about energy consumption and its impact on the power grid.
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The rapid growth of artificial intelligence is causing a surge in energy consumption by data centers, challenging sustainability goals and straining power grids. This trend is raising concerns about the environmental impact of AI and the tech industry's ability to balance innovation with eco-friendly practices.
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Tech giant Microsoft and investment firm BlackRock are collaborating to raise a massive $100 billion fund for AI infrastructure development. The initiative aims to address the growing demand for data centers and sustainable energy solutions in the AI era.
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30 Sources
A groundbreaking $100 billion AI infrastructure fund has been launched by Microsoft, BlackRock, and a UAE-based firm. This collaboration aims to revolutionize AI development and deployment globally.
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