infrastructure to support their energy-intensive artificial intelligence investments. The first step is a 150-megawatt project. This project should be operational by 2027 and expand geothermal energy usage in the United States.
Geothermal energy is a sustainable energy source that utilizes the Earth's inner heat to produce electricity and heat water. Meta announced this as President Joe Biden’s administration requests big technology companies to invest in sustainable power. This request comes to cover their ascending electricity demand. The location for this project is not known yet, exactly, but Meta and Sage Geosystem said it will be probably the east of the Rocky Mountains.
The parent of Instagram and Facebook confirmed the geothermal energy from Sage Geosystems would help the power grid. The social media company has been quickly improving and expanding its infrastructure to support the AI workloads. These workloads need specialized chips, resulting in a significant rise in company costs.
Sage Geosystems is a Houston-based startup. The startup is helped by oil and gas companies Chesapeake Energy and Nabors Industries. Unlike traditional geothermal systems, The Sage technology is designed for more locations. Conventional systems depend on naturally hot water reservoirs. The project means the primary attempt to date for Sage. The company validated its technology in the field two years ago.
Meta, the social media parent, projected their 2024 capital payments range between $37 billion and $40 billion. A significant part of the social platform growth infrastructure is due to their AI expansion. Also, the social media parent advised that these costs would be a `significant driver` of expense increase into 2025.
The parent of Instagram and Facebook have been mixing to recondition and build infrastructure for their push into generative AI for the past few years. Also, the social platform has remodeled its data centers. They now support the chips best suited to AI workloads.
The social platform declared they want to create a healthier planet for all. To do this, they will implement zero-carbon economy solutions. Meta has engaged more than 12,000 MW in sustainable energy projects. This investment makes Meta one of the largest corporate buyers of sustainable energy globally.
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