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Berkshire Hathaway CEO: Large-scale data center construction will create huge growth opportunities for the utility industry
BlockBeats News, May 3rd, Berkshire Hathaway CEO Greg Abel stated at the annual shareholders meeting that the company has maintained a cautious stance in using and managing artificial intelligence, which stands in stark contrast to other CEOs who are actively reshaping or rebranding their businesses around AI.
Abel said: “AI must generate incremental value for our business. We will not use AI just for the sake of AI.”
He stated that Berkshire will deploy AI with a narrower scope, focusing on creating real value. At the same time, he pointed out that this technology poses certain risks to “human society,” and the company will consider these factors during its advancement. The construction of data centers and their electricity demands are creating huge growth opportunities for utility companies. Energy demand remains well below peak load capacity.
Berkshire Hathaway held its annual shareholders meeting on May 2nd — the first since Warren Buffett handed over the CEO role to Greg Abel earlier this year. Before the meeting, Berkshire’s latest financial report showed its cash reserves had reached a record close to $400 billion.