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Investing.com -- Shares of NVIDIA Corporation (NASDAQ:NVDA) and Amazon.com Inc (NASDAQ:AMZN) rose 3.2% and 3% respectively Thursday after executives from both companies pushed back on reports suggesting a slowdown in artificial intelligence infrastructure spending. Speaking at a conference reported on by CNBC, the companies said demand for compute power and data center capacity remains strong, directly addressing recent concerns from investors.
Kevin Miller, Amazon’s vice president of global data centers, acknowledged that speculation about paused leasing had generated noise in the market but insisted the company’s outlook was unchanged. He told the audience there had been “no significant change” to data center plans, and criticized what he called “tea leaf reading” of Amazon’s long-term strategy.
Nvidia’s senior director of corporate sustainability, Josh Parker, echoed Miller’s comments, stating the chipmaker has not observed any reduction in demand for AI-related compute power. He downplayed industry concerns that a new model from Chinese AI firm DeepSeek would slash energy needs, characterizing that reaction as a “kneejerk.”
Much of the discussion centered not just on data center construction, but the massive energy capacity required to support AI at scale. Anthropic’s co-founder Jack Clark projected that 50 gigawatts of new power generation, the equivalent of 50 nuclear reactors, will be needed by 2027 as AI adoption grows.
At the Hamm Institute for American Energy conference in Oklahoma City, executives from tech and energy firms pointed toward natural gas as a viable backbone for meeting surging electricity needs. With AI systems expanding rapidly, the convergence of these industries is becoming increasingly visible.
Despite reports earlier in the week, including by Wells Fargo (NYSE:WFC) analysts citing AWS leasing slowdowns, Amazon and Nvidia delivered a unified message: demand isn’t slowing... and neither are their plans. “We’re looking both in the next couple years as well as long term and seeing the numbers only going up,” Miller said, reinforcing Amazon’s ongoing investment trajectory.
