Why AI is driving new investment in New Zealand's power future | Herald NOW Bus…

Why AI is driving new investment in New Zealand's power future | Herald NOW Business <!--mynz:youtube-chapters--> {"v":1,"chapters":[{"timeSeconds":1,"label":"Mercury's AI Investment","summary":"Mercury has taken a 12.7% stake in Data Grid, a company focused on building data centres. This investment is valued at $53 million."},{"timeSeconds":25,"label":"Interview with Mercury's CEO","summary":"The CEO of Mercury, Stu Hamilton, joins the program to discuss the company's investment in data centres and their future plans."},{"timeSeconds":43,"label":"Mercury's $53m Bet on AI","summary":"Mercury's $53 million investment in Data Grid is described as a significant infrastructure project. This is seen as a bet on the growing demand for AI."},{"timeSeconds":107,"label":"AI Demand and Power Generation","summary":"The investment is seen as a way to secure future power demand for AI. Mercury believes New Zealand has significant opportunities in this area."},{"timeSeconds":131,"label":"New Zealand's Global Position","summary":"The speaker discusses how New Zealand's position in the global market for data and physical products, like aluminium, presents unique advantages."},{"timeSeconds":153,"label":"Data Centres and Water Usage","summary":"The discussion touches on the water usage of data centres, noting that those in cooler climates like New Zealand require less water for cooling."},{"timeSeconds":205,"label":"AI Demand Fuels Data Centre Investment","summary":"The increasing demand for AI is driving investment in data centres. Mercury's investment is seen as a strategic move to capitalize on this trend."},{"timeSeconds":354,"label":"Social License and Future Jobs","summary":"Concerns about social license for data centres are addressed, along with the potential for job creation and economic benefits for New Zealand."}]} <!--/mynz:youtube-chapters-->