Meta is entering the wholesale power-trading business to manage its increasing electricity needs driven by artificial intelligence (AI) development. The company has filed an application with the US Federal Energy Regulatory Commission (FERC) to sell energy, capacity, and ancillary services at market-based rates.
Meta's move is driven by growing energy demands, clean energy goals, and the potential for profit. The company's data centers are expected to quadruple their power demand within the next decade, and participating in energy markets can help Meta better manage its electricity needs.
By selling excess power to wholesale markets, Meta can make extra money, especially when prices are high. This move is part of a larger trend of tech companies grappling with increasing electricity demands for their AI systems.
