Notes from recent Odd Lots discussion with CreditSights analyst on utility issues in AI buildout:

1/ Utilities claim AI-driven power scarcity, but math points the other way: ~45 GW data-center load today, ~90–95 GW by 2030, versus ~140 GW of firm, contracted utility capacity already queued. After de-duping adjustment, committed supply likely exceeds plausible demand growth.