Big Tech private equity electricity utilities power energy.

Private investment firms that are helping finance America’s artificial intelligence race and the huge buildout of energy-hungry data centers are getting interested in the local utilities that deliver electricity to regular customers — and the servers that power AI. Billions of dollars from such firms are now flowing toward electric utilities in places including New Mexico, Texas, Wisconsin and Minnesota. Greg Brown, a University of North Carolina at Chapel Hill professor, says that’s because there’s a lot of money to be made. Buyout proposals are coming at a time when electricity bills are rising fast across the U.S. Opponents worry buyouts will further drive up electric bills for regular people.