Are data centers the new oil fields?

A new report from the International Energy Agency (IEA) shows that $580 billion will be spent globally on AI data centers in 2025 alone. This is $40 billion more than will be spent on new oil supplies — leading us to conclude that data centers are the new oil fields. But is this a net positive for the environment or just a different kind of resource drain? On TechCrunch's Equity podcast, Kirsten Korosec, Anthony Ha, and Rebecca Bellan dig into what this spending shift means for the energy grid, climate tech, and whether taxpayers should be footing the bill for Big Tech's infrastructure ambitions. Listen to the full episode to hear about: The anti-AI disclaimer at the end of Pluribus Israeli AI agent startup Wonderful's massive $100 million Series A, and why customer service might be the killer app for AI agents Swedish autonomous vehicle company Einride's SPAC deal — yes, SPACs are back — and whether its electric truck business can carry the autonomous pod dream Why OpenAI's CFO walked back comments about government "backstops" for data center loans, and what the company is actually asking for from the CHIPS Act The rise of government spyware targeting journalists and activists, and why mobile phone design makes it nearly impossible to detect How China-backed hacking groups like Salt Typhoon are "pre-positioning for sabotage" in critical infrastructure worldwide Disclaimer: This podcast was (also) made by humans Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices