The Kobeissi Letter says the United States is undergoing a modern-day “gold rush” as artificial intelligence (AI) drives an unprecedented boom in data center construction that could redefine global power markets.
‘We’re Still Early’: Kobeissi Letter Calls Power the World’s Most Valuable Commodity
In a thread posted to X, The Kobeissi Letter — a leading market commentary platform — outlined staggering statistics behind the AI-fueled data center surge.
“The U.S. now has 5,426 data centers, more than all other major countries combined,” the post said, noting that $40 billion worth of new facilities are under construction, a 400% increase since 2022.
The report highlighted a shift in the U.S. commercial property landscape, with data center projects expected to exceed the total value of office buildings for the first time in history. “This is a modern-day gold rush,” the analyst’s thread declared, comparing the AI infrastructure boom to historic waves of industrial expansion.
Since OpenAI’s ChatGPT debut in late 2022, the value of active U.S. data center projects has tripled from $12 billion to $40 billion, the Kobeissi analysis found. Yet, as construction accelerates, the X post warned that energy demand is far outpacing supply. “By 2030, U.S. data center energy consumption will account for 8.1% of national power demand,” it said, up from 3.9% in 2023.
Citing Morgan Stanley projections, The Kobeissi Letter noted a looming 36-gigawatt shortfall across the U.S. grid over the next three years. The firm added that electricity prices have risen 23% since ChatGPT’s release and 40% since 2020, well above the broader inflation rate.
On the global front, China is reportedly building far larger facilities despite having fewer data centers overall — roughly 449 — and leads the U.S. in nuclear power construction, with 29 large reactors underway versus none in the U.S. “Power will soon become the most valuable commodity in the world,” The Kobeissi Letter asserted.
As major firms including Alphabet (Google), Amazon, Meta, Microsoft, and OpenAI pledge a combined $800 billion for new data centers in 2025, the social media post concluded that the next great investment theme isn’t chips or models — it’s power. “Without far more electricity, the AI Revolution simply cannot happen,” the Kobeissi team wrote.
FAQ ⏱️
- What did The Kobeissi Letter highlight about AI’s impact on power?
It emphasized that AI data centers are fueling massive electricity demand growth, potentially consuming 8.1% of U.S. power by 2030. - How much are U.S. data center projects worth in 2025?
Roughly $40 billion worth of data centers are currently under construction in the United States. - Why does The Kobeissi Letter call power the “next big thing”?
It argues that electricity, not chips, will define the future economy as AI expansion strains power infrastructure. - Which countries are leading in nuclear development?
China leads with 29 nuclear reactors under construction, while the U.S. currently has none.
