Big Tech Hires Energy Experts, 34% Growth in 2024
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2026
0mins
Should l Buy AMZN?
Source: CNBC
- Significant Hiring Surge: In 2024, tech companies saw a 34% year-on-year increase in energy-related hiring, reflecting a strong demand for energy experts to support their AI expansion and data center power needs.
- Data Center Power Demand: According to the International Energy Agency, data centers accounted for 1.5% of global electricity consumption in 2024, marking a 12% increase over the past five years, indicating major challenges for Big Tech in meeting power demands.
- Acquisitions and Talent Wars: Google plans to acquire data center company Intersect for $4.75 billion while adding 340 energy-related hires since 2022, showcasing its strategic positioning in the energy market.
- Power Purchase Agreements: Meta has signed power purchase agreements with small modular reactor company Oklo, further solidifying its position in the energy sector, while Amazon, Google, and Microsoft have received approval to act as electricity traders, allowing them to sell excess power back to the grid.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy AMZN?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise
44 Analyst Rating
41 Buy
3 Hold
0 Sell
Strong Buy
Current: 250.560
Low
175.00
Averages
280.01
High
325.00
Current: 250.560
Low
175.00
Averages
280.01
High
325.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Amazon's Cloud Business Outlook Improves
- Cloud Growth Expectations: Bank of America raised Amazon's price target to $298, anticipating a 28% annual growth rate for Amazon Web Services (AWS), which exceeds market expectations and highlights strong demand and potential profitability in the cloud computing sector.
- AI Demand Driving Revenue: With surging demand for AI services from companies like Anthropic, AWS is projected to generate over $1 billion in a single quarter, reflecting the rapid growth of AI workloads on cloud platforms.
- Short-Term Profit Pressures: Despite strong demand for AI-related services, there may be short-term profit pressures, particularly as corporate infrastructure spending increases, prompting Amazon to implement cost-cutting measures, including layoffs, to mitigate these challenges.
- Overall Business Performance: Internal data indicates a slight increase in internet spending compared to the previous quarter, which is expected to boost overall revenue, suggesting that Amazon's core business outside of AWS is also experiencing steady growth.
See More
AMAZON STOCK INCREASES 2.9% IN PREMARKET TRADING FOLLOWING COMPANY'S PLAN TO INVEST UP TO $25 BILLION IN ANTHROPIC
Amazon's Stock Performance: Amazon shares increased by 2.9% in pre-market trading.
Investment Announcement: The rise follows an announcement of a significant investment of up to $25 billion in an anthropic initiative.
See More
Anthropic to Invest Over $100 Billion in Cloud Tech Over Next Decade
- Massive Investment Plan: Anthropic announced plans to invest over $100 billion in cloud technology over the next decade, a move that will significantly enhance its technological capabilities and drive business growth.
- Cloud Technology Strategy: This investment will focus on strengthening its cloud infrastructure, aiming to improve service quality and customer experience, thereby positioning itself more favorably in a competitive market.
- Market Impact: As demand for cloud computing continues to rise, this investment by Anthropic is expected to not only propel its own technological advancements but also have a profound impact on the industry, fostering innovation and development in related technologies.
- Long-term Vision: Through this strategic investment, Anthropic aims to become a leader in the cloud technology space over the next decade, further solidifying its market position in artificial intelligence and machine learning.
See More
Apple's New CEO Takes Over Amid Optimistic Market Outlook
- Apple Leadership Change: Apple announced that Senior Vice President of Hardware Engineering John Ternus will take over as CEO on September 1, succeeding Tim Cook, who has led the company to a market cap increase of over 20 times to $4 trillion since 2011, presenting Ternus with significant leadership challenges.
- UnitedHealth Earnings Beat: UnitedHealth reported strong quarterly results with a medical benefit ratio of 83.9%, better than the 85.5% consensus, leading to a more than 7% increase in shares, alongside a plan to buy back at least $2 billion in stock by Q2, indicating robust financial health.
- GE Aerospace Performance: GE Aerospace's quarterly results exceeded expectations with orders rising 87% to $23 billion and revenue increasing 25% to $12.39 billion, and despite travel issues in Asia and the U.S., management maintained prior guidance, reflecting ongoing improvements in the defense sector.
- Amazon's Increased Investment: Amazon is boosting its investment in AI company Anthropic by an additional $5 billion, with an option for $20 billion more upon achieving commercial milestones, aiming to reduce reliance on Nvidia and address the growing demand for computing power, showcasing Amazon's strategic positioning in the AI landscape.
See More
AI Surge Drives Energy Demand Explosion
- Surge in Energy Demand: Data center electricity demand is projected to double from approximately 448 TWh in 2025 to nearly 980 TWh by 2030, with AI-optimized servers accounting for 44%, indicating that the energy-intensive nature of AI training and inference is becoming a critical constraint in infrastructure planning.
- Infrastructure Bottlenecks: As energy demand surges, many electrical grids are struggling with outdated designs that cannot accommodate the continuous high loads of modern data centers, leading to project delays and constraints on technological progress, highlighting the urgent need for new energy solutions to alleviate these bottlenecks.
- Focus on Localized Generation: American Fusion is concentrating on localized, high-output energy generation, aiming to reduce reliance on centralized grids by providing dedicated power sources for high-demand applications like data centers, thereby addressing the growing energy needs effectively.
- From Innovation to Execution: As technologies mature, the industry is shifting from research-driven innovation to execution-focused development, with American Fusion reflecting this trend by emphasizing the construction of both technological capabilities and operational infrastructure, ensuring its critical role in future energy solutions.
See More
Einride Partners with Amazon to Deploy Electric Trucks
- Partnership Scale: Swedish trucking company Einride announced a partnership with Amazon to deploy 75 manually operated electric heavy-duty trucks and supporting charging infrastructure across five U.S. locations, marking a strategic collaboration in electric transportation.
- Infrastructure Development: This partnership involves not only the deployment of trucks but also the construction of corresponding charging facilities, which is expected to enhance the operational efficiency of Amazon's freight network and facilitate its transition to sustainable transportation.
- Market Impact: By introducing electric heavy-duty trucks, Einride aims to expand its influence in the U.S. market while helping Amazon reduce transportation costs and carbon emissions, aligning with global environmental trends.
- Future Outlook: This collaboration provides Einride with an opportunity to partner with a global e-commerce giant, which is expected to drive further development in the electric logistics sector and potentially attract attention and partnerships from similar companies.
See More
Amazon's Cloud Business Outlook Improves
- Cloud Growth Expectations: Bank of America raised Amazon's price target to $298, anticipating a 28% annual growth rate for Amazon Web Services (AWS), which exceeds market expectations and highlights strong demand and potential profitability in the cloud computing sector.
- AI Demand Driving Revenue: With surging demand for AI services from companies like Anthropic, AWS is projected to generate over $1 billion in a single quarter, reflecting the rapid growth of AI workloads on cloud platforms.
- Short-Term Profit Pressures: Despite strong demand for AI-related services, there may be short-term profit pressures, particularly as corporate infrastructure spending increases, prompting Amazon to implement cost-cutting measures, including layoffs, to mitigate these challenges.
- Overall Business Performance: Internal data indicates a slight increase in internet spending compared to the previous quarter, which is expected to boost overall revenue, suggesting that Amazon's core business outside of AWS is also experiencing steady growth.
See More
AMAZON STOCK INCREASES 2.9% IN PREMARKET TRADING FOLLOWING COMPANY'S PLAN TO INVEST UP TO $25 BILLION IN ANTHROPIC
Amazon's Stock Performance: Amazon shares increased by 2.9% in pre-market trading.
Investment Announcement: The rise follows an announcement of a significant investment of up to $25 billion in an anthropic initiative.
See More
Anthropic to Invest Over $100 Billion in Cloud Tech Over Next Decade
- Massive Investment Plan: Anthropic announced plans to invest over $100 billion in cloud technology over the next decade, a move that will significantly enhance its technological capabilities and drive business growth.
- Cloud Technology Strategy: This investment will focus on strengthening its cloud infrastructure, aiming to improve service quality and customer experience, thereby positioning itself more favorably in a competitive market.
- Market Impact: As demand for cloud computing continues to rise, this investment by Anthropic is expected to not only propel its own technological advancements but also have a profound impact on the industry, fostering innovation and development in related technologies.
- Long-term Vision: Through this strategic investment, Anthropic aims to become a leader in the cloud technology space over the next decade, further solidifying its market position in artificial intelligence and machine learning.
See More
Apple's New CEO Takes Over Amid Optimistic Market Outlook
- Apple Leadership Change: Apple announced that Senior Vice President of Hardware Engineering John Ternus will take over as CEO on September 1, succeeding Tim Cook, who has led the company to a market cap increase of over 20 times to $4 trillion since 2011, presenting Ternus with significant leadership challenges.
- UnitedHealth Earnings Beat: UnitedHealth reported strong quarterly results with a medical benefit ratio of 83.9%, better than the 85.5% consensus, leading to a more than 7% increase in shares, alongside a plan to buy back at least $2 billion in stock by Q2, indicating robust financial health.
- GE Aerospace Performance: GE Aerospace's quarterly results exceeded expectations with orders rising 87% to $23 billion and revenue increasing 25% to $12.39 billion, and despite travel issues in Asia and the U.S., management maintained prior guidance, reflecting ongoing improvements in the defense sector.
- Amazon's Increased Investment: Amazon is boosting its investment in AI company Anthropic by an additional $5 billion, with an option for $20 billion more upon achieving commercial milestones, aiming to reduce reliance on Nvidia and address the growing demand for computing power, showcasing Amazon's strategic positioning in the AI landscape.
See More
AI Surge Drives Energy Demand Explosion
- Surge in Energy Demand: Data center electricity demand is projected to double from approximately 448 TWh in 2025 to nearly 980 TWh by 2030, with AI-optimized servers accounting for 44%, indicating that the energy-intensive nature of AI training and inference is becoming a critical constraint in infrastructure planning.
- Infrastructure Bottlenecks: As energy demand surges, many electrical grids are struggling with outdated designs that cannot accommodate the continuous high loads of modern data centers, leading to project delays and constraints on technological progress, highlighting the urgent need for new energy solutions to alleviate these bottlenecks.
- Focus on Localized Generation: American Fusion is concentrating on localized, high-output energy generation, aiming to reduce reliance on centralized grids by providing dedicated power sources for high-demand applications like data centers, thereby addressing the growing energy needs effectively.
- From Innovation to Execution: As technologies mature, the industry is shifting from research-driven innovation to execution-focused development, with American Fusion reflecting this trend by emphasizing the construction of both technological capabilities and operational infrastructure, ensuring its critical role in future energy solutions.
See More
Einride Partners with Amazon to Deploy Electric Trucks
- Partnership Scale: Swedish trucking company Einride announced a partnership with Amazon to deploy 75 manually operated electric heavy-duty trucks and supporting charging infrastructure across five U.S. locations, marking a strategic collaboration in electric transportation.
- Infrastructure Development: This partnership involves not only the deployment of trucks but also the construction of corresponding charging facilities, which is expected to enhance the operational efficiency of Amazon's freight network and facilitate its transition to sustainable transportation.
- Market Impact: By introducing electric heavy-duty trucks, Einride aims to expand its influence in the U.S. market while helping Amazon reduce transportation costs and carbon emissions, aligning with global environmental trends.
- Future Outlook: This collaboration provides Einride with an opportunity to partner with a global e-commerce giant, which is expected to drive further development in the electric logistics sector and potentially attract attention and partnerships from similar companies.
See More
