Data centers will likely provide boost to nuclear energy, says Cameco CEO

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By Mrinalika Roy

(Reuters) – Uranium miner Cameco Corp’s chief executive said on Tuesday projected demand from data centers powering technology like generative AI will likely be a boost for nuclear energy.

Over the past year, big technology companies have been racing to build data centers needed to power applications such as OpenAI’s viral chatbot, ChatGPT, as they try to capitalize on what is expected to be the industry’s next key growth driver.

Chatbots like ChatGPT require about 10 times the energy as a Google search.

“Gone are the days of rolling out new technology without worrying about future potential runway environmental impacts. Companies driving the technology forward are doing so while keeping carbon footprint and 24/7 reliability top of mind … nuclear is the clear winner,” CEO Timothy Gitzel said during a post-earnings call.

Many industrial power users and tech sector experts are signing agreements to ensure their facilities can access zero-carbon and reliable nuclear energy now and into the future, he said.

Overall, power use from the thousands of giant computing warehouses that comprise data centers is expected to triple globally from less than 15 terawatt-hours (TWh) in 2023 to 46 TWh this year, according to Morgan Stanley Research.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Shilpi Majumdar)