The energy crisis in the U.S. is putting pressure on AI giants: Melman warns about rising operational expenses

The US energy infrastructure faces a critical bottleneck. According to Benjamin Melman, head of investments at Edmond de Rothschild, the gap between electricity supply and demand is intensifying a struggle in the artificial intelligence sector.

The diagnosis is clear: the current generation capacity in the United States is insufficient to sustain the explosive growth of AI operations. This structural deficiency has resulted in substantially higher electricity rates compared to other regions.

The impact on operating margins

Melman warns that this reality will create a scenario of accelerated competition for cheap energy resources. US artificial intelligence companies will be forced to optimize their consumption or relocate operations, which will inevitably increase their operational cost structures.

The Edmond de Rothschild specialist emphasizes that the tariff pressure is not an isolated phenomenon but a symptom of a fundamental misalignment between the national energy infrastructure and the needs of an industry in rapid expansion. Without structural intervention, this dynamic will continue to erode the profitability of AI operations in the country.