Berkshire Hathaway Energy is positioning itself to supply power to artificial intelligence data centers. CEO Greg Abel told CNBC the company seeks to serve hyperscalers under favorable terms that protect existing customers.
Data centers accounted for approximately 8% of the company's energy load in Iowa last year. Abel stated that new projects must provide a net benefit to other customers and minimize impact on local resources like water.
The strategy aligns with Berkshire’s long-term investment philosophy and its significant stake in Google parent Alphabet. Warren Buffett initiated the Alphabet investment approximately 15 months ago. Abel confirmed the firm's belief that AI will have a significant impact on the United States.