ChatGPT Consumes Electricity Equal to 283,000 California Homes’ Daily Consumption in Year
The Governor of the Saudi Public Investment Fund, Yassir Al-Rumayyan, said that the ChatGPT application consumes electricity in one day equivalent to the consumption of 283,000 homes in California in a year.
Al-Rumayyan added, during his speech during the launch of the “Priority Summit” of the Future Investment Initiative in Brazil in Rio de Janeiro, that this shows the scale of the challenge that the world will face, while continuing to use fossil fuels, especially coal and others. Therefore solutions must be sought to operate artificial intelligence from renewable energy.
He continued: “This is what we are working on, and I believe that Brazil is in a good position to be one of the main players.”
He stated that energy is the biggest challenge facing the development of artificial intelligence, noting that energy consumption in artificial intelligence will exceed all limits.
“We expect electricity consumption to increase between 3% and 6% annually from the use of artificial intelligence,” according to Al-Rumayyan.
Al-Rumayyan also expressed the Fund’s interest in investing in football in Brazil. He said that the Kingdom aims to increase PIF assets to about $3 trillion by 2030. Furthermore, Al-Rumayyan highlighted that this investment is part of a broader strategy to diversify the PIF’s portfolio and enhance its global presence.
Yasir O. Al-Rumayyan
Yasir O. Al-Rumayyan has been Governor of the Public Investment Fund of Saudi Arabia since 2015, leading all areas of operation of the sovereign wealth fund, which sits at the heart of Saudi Arabia’s Vision 2030 and economic transformation strategy. He also serves as Advisor to the General Secretariat of the Cabinet of Ministers, a position he has held since 2016.
Al-Rumayyan has over 25 years of experience in Saudi Arabia’s top financial institutions. He started his career at the Saudi Hollandi Bank, holding key positions in various departments and eventually becoming Head of International Brokerage. In 2004, he joined the Capital Market Authority as part of the founding team and was appointed Director of the Corporate Finance and Issuance Division in 2008. From 2010 to 2015, he was CEO and board member of Saudi Fransi Capital and also served on the board of Tadawul, the Saudi Stock Exchange, from 2014 to 2015.
Al-Rumayyan holds key positions on the boards of several influential companies and organizations. Notably, he has been Chairman of Saudi Aramco, the world’s most valuable listed company, since September 2019. He has also served as Chairman of Ma’aden since the same date. Additionally, Al-Rumayyan is a board member of Uber Technologies Inc., Saudi Industrial Development Fund, SoftBank Group Corp, and ARM Limited.
It is worth noting that Al-Rumayyan holds a degree in Accounting from King Faisal University in Saudi Arabia and is a graduate of the Harvard Business School’s General Management Program.
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