Meta applies to enter the US wholesale electricity market, escalating the "power grab" among tech giants

Jinse Finance reported that Meta Platforms has submitted an application to U.S. federal regulators, planning to enter the wholesale electricity market to conduct electricity sales business. For major tech companies such as Meta, Microsoft, and Google, obtaining more electricity supply has become an increasingly urgent challenge. These companies are competing to develop more advanced artificial intelligence systems and tools, and such projects are known for their enormous resource consumption. According to institutional forecasts, the electricity demand of data centers used to build and operate artificial intelligence models is expected to grow to four times the current level over the next decade. Meta submitted this application through its subsidiary Atem Energy LLC. A Meta representative stated that participating in the energy market is a natural step for the company.