Berkshire Hathaway CEO: Large-Scale Data Center Construction to Bring Huge Growth Opportunity to Utility Industry

BlockBeats News, May 3rd, Berkshire Hathaway CEO Greg Abel stated at the annual shareholders meeting that the company has always maintained a cautious stance on the use and management of artificial intelligence, in stark contrast to other CEOs who are actively reshaping or rebranding their businesses around AI.

Abel said, "AI must add incremental value to our business. We will not use AI just for the sake of using AI."

He expressed that Berkshire will deploy AI with a narrow scope, focusing on creating tangible value as the goal. At the same time, he pointed out that this technology poses certain risks to the "human society," and the company will also consider these factors in the advancement process. The construction of data centers and their electricity demand on the grid are bringing significant growth opportunities for utility companies. Energy demand remains well below peak load capacity.

Berkshire Hathaway held its annual shareholders meeting on May 2nd—this was the first meeting since Warren Buffett handed over the CEO position to Greg Abel earlier this year. Prior to the meeting, Berkshire's latest financial report showed that its cash reserves had reached a record high of close to $400 billion.