Berkshire Hathaway CEO: Large-scale data center construction will create significant growth opportunities for the utilities industry

BlockBeats report, May 3, Greg Abel, CEO of Berkshire Hathaway, stated at the annual shareholders meeting that the company has maintained a relatively cautious stance in using and managing artificial intelligence, which stands in sharp contrast to other CEOs who are actively reshaping or rebranding their businesses around AI.

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

He stated that Berkshire will deploy AI within a narrower scope, focusing on creating real value. He also pointed out that this technology presents certain risks to "human society," and that the company will take these factors into account as it moves forward. The construction of data centers and the resulting electricity demand on the grid are creating tremendous growth opportunities for utility companies. Energy demand still remains well below peak load capacity.

Berkshire Hathaway held its annual shareholders meeting on May 2—the first since Warren Buffett handed the CEO position to Greg Abel at the beginning of the year. Before the meeting, Berkshire's latest financial report showed that its cash reserves had reached a record close to 400 billion USD.