The Utilities Analyst Who Says The Data Center Demand Story Doesn't Add Up | Odd Lots
Why it matters
A utilities analyst, Andy DeVries, claims that the forecasted 94 gigawatts of energy demand by 2030 for data centers may be overestimated, potentially leading to an infrastructure overbuild. This could impact the 'picks and shovels' approach of investing in energy infrastructure. The analyst's views may affect the credit markets.
Article tone
Expected market reaction
Market impact analysis based on bearish sentiment with 75% confidence.
Evidence trail
Evidence
AI provenance
Technical identifiers
- Provider tag
- groq-llama-3.1-8b-instant
- Analysis version
- groq-llama-3.1-8b-instant
- Article id
- 40212
Original source
Utilities analysts are having a moment as the energy sector gets a boost from AI. With an extra 94 gigawatts forecast to be needed by 2030 to power all these data centers, energy investment has become a hot play as investors take a "picks and shovels" approach. But one long-time utilities analyst says that -- from a utilities perspective -- we're already set to overbuild capacity by twice as much is needed. Andy DeVries, head of investment grade credit and head of utilities and power at CreditSights, talks to us about the math behind his infrastructure overbuild analysis, who's been making money (so far) from the data center boom, and what we already see playing out in the credit markets. (Source: Bloomberg)
Read the full article on Bloomberg
Original article published by Bloomberg on February 2, 2026. Analysis and insights provided by AnalystMarkets AI.