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Nvidia is weighing a $1 billion investment in Lancium, a move that would raise its stake in the energy infrastructure company to 30%. The potential deal highlights how the chipmaker is turning to power supply as a strategic lever for its AI ambitions.

Why AI runs on electricity

AI models are hungry for power. Data centers that train and run these models consume electricity at a scale that can rival small cities. As demand for AI services grows, so does the pressure on energy grids. That's made power infrastructure a bottleneck. Nvidia's interest in Lancium suggests the company wants