Electricity prices may spike due to AI demand if US doesn't boost energy output, White House warns

A new White House study warns that electricity prices may spike due to artificial intelligence demand if the United States does not boost energy output. 

The White House Council of Economic Advisors is expected to release a report on Thursday that found energy needs for AI data centers will exceed the total energy consumed by many sectors to make some construction products.

"The International Energy Agency (IEA) estimates that by 2030, U.S. data centers will consume more electricity than production of aluminum, steel, cement, chemicals and all other energy-intensive goods combined," according to a copy of the report first obtained by FOX Business.