(Bloomberg) -- Generac Holdings Inc., a major seller of backup generators, expects its sales to rise as the US power grid gets more stressed from extreme weather and rising demand from AI-powered data centers.
“You are seeing people taking the situation into their own hands, whether it is backing up their own homes or business or doing something to produce their own power,” Chief Executive Officer Aaron Jagdfeld said Friday during an interview on Bloomberg Television.
The reliability of US power supply has declined over the past two decades as more frequent severe weather such as hurricanes and heat waves has challenged utility infrastructure, Jagdfeld added. On top of that, electricity demand is rising with technology companies building more data centers and consumers buying more electric cars and appliances, he added.
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