Global Sustainability Key investor questions & takeaways (Vol 2) - AI, power availability and capacity

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Global Sustainability Key investor questions & takeaways (Vol 2) - AI, power availability and capacity

Global Research

16 June 2026ab

Global Sustainability Equities

Latin AmericaKey investor questions & takeaways (Vol 2) -

AI, power availability and capacity Global Sustainability

Luciana Carvalho

Product Manager

luciana.carvalho@ubs.com

AI bottlenecks bring industrials into focus – key takeaways from our call +55-11-2767 6524

Yesterday we hosted the second session of our Monthly Decarb Energy Strategy Shneur Z. Gershuni, CFA

Update with Amit Mehrotra (US Multi Industrials Analyst) and Shneur Gershuni (US Analyst

Decarb Strategist), focusing on how accelerating AI demand, data center build- shneur.gershuni@ubs.com

outs, and tightening power availability are reshaping the industrial and energy +1-212-713 3974

landscape. The discussion centered on the growing imbalance between demand for Alberto Valerio

compute and availability of electricity, with ~$500bn of required power Analyst

infrastructure investment and system stress emerging above ~3% power demand alberto.valerio@ubs.com

growth. This discussion builds on our prior Decarb Update Call with the US Utilities +55-11-2767 6918

Analyst and is part of a broader, ongoing series exploring the evolving AI power value Giuliano Ajeje

chain. Analyst

giuliano.ajeje@ubs.com

Tight capacity outlook supports multi-year pricing power +55-11-2767 6371

~100 GW of demand vs. ~70 - 72 GW of projected supply by 2028 - 2029, even Victoria Kalb

after announced expansions, indicating a structurally undersupplied market. Analyst

vicki.kalb@ubs.com

GE Vernova (GEV) expanding from ~15 GW to ~20 GW and ~24 GW, with +65-6495 4584

Siemens and Mitsubishi also increasing output, while supply remains below

Alisa Dudchak

demand.

Analyst