Power needs for artificial intelligence and cloud computing are expanding so rapidly that some data center campuses may use more electricity than entire cities, or even states, CNBC reports. Here is what Ali Fenn, president of Lancium, a company that secures land and power for data centers had to say about technology companies:
“Technology companies are in a “race of a lifetime to global dominance” in artificial intelligence. It’s frankly about national security and economic security. They’re going to keep spending because there’s no more profitable place to deploy capital”.
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As such, it is important to note that renewable energy isn’t going to be enough to meet their power needs. According to developers, natural gas will also have to play a role. In turn, this need will slow down the progress towards meeting carbon dioxide emission targets. Nat Sahlstrom, chief energy officer at Tract, a Denver-based company that secures land, infrastructure, and power resources for such facilities, further reveals how data center companies have already begun operating at a scale where they have started “tapping out against the existing utility infrastructure”.
In other news, Uber is reportedly building a fleet of gig workers for labeling data for AI models. The new data labeling division, known as Scaled Solutions, will have workers complete projects for the company’s internal business units as well as serve outside customers, including self-driving vehicle company Aurora Innovation and video game developer Niantic, according to a report from Bloomberg. The ride-hailing company has started recruiting contractors in countries including the U.S., Canada, and India, among others.
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15. Perfect Corp. (NYSE:PERF)
Number of Hedge Fund Holders: 9
Perfect Corp. (NYSE:PERF) is a leader in AI and AR-powered beauty technology solutions. On November 25, Perfect Corp. (NYSE:PERF) announced that it has partnered with Holidermie, a leading French skincare brand. The partnership will be integrating Perfect Corp.’s dermatologist-verified Skincare Pro AI Skin Analysis into Holidermie’s flagship retail locations. Available through iPads at Holidermie’s flagship store and Le Bon Marché Rive Gauche, customers will be able to enjoy AI-powered personalized skin care consultations like never before. The AI platform evaluates a customer on six key skin health indicators—including hydration, wrinkles, dark circles, acne, radiance & firmness, on order to deliver precise, high-resolution skin assessments.
“With the Skincare Pro AI Skin Analysis, we’re introducing a transformative level of precision and personalization to the skincare shopping experience, especially in Paris’ iconic retail hubs. Our partnership with Holidermie embodies our commitment to combining cutting-edge technology with science-backed solutions to enhance the customer journey”.
-Alice Chang, Founder and CEO of Perfect Corp.
14. Informatica Inc. (NYSE:INFA)
Number of Hedge Fund Holders: 22
Informatica Inc. (NYSE:INFA) is a leader in enterprise AI-powered cloud data management.
On November 26, Informatica Inc. (NYSE:INFA) announced that Informatica’s senior leadership team will be hosting a “Technology Talk” webcast emphasizing modern cloud data architectures. The webcast will delve into the transformation from traditional data warehouses to modern cloud data infrastructures, and learn how Informatica’s Intelligent Data Management Cloud™ platform (IDMC) drives the success of cloud data warehouses, lakes, and lake houses. The team will also be discussing the role IDMC plays in current and emerging cloud data technologies. The live video webcast will be hosted on Tuesday, December 17, 2024, at 8:30 a.m. Pacific Time.
