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Semafor

US inflation jumps, though long-term war impact yet to be seen Hospitals consider replacing some radiologists with AI Amazon takes a jab at Nvidia over chips shift VCs step in to fund university upstarts Exclusive: Anthropic is gaining on OpenAI’s revenue, but hasn’t yet eclipsed it Exclusive: AI powerhouses threaten data processing firms A South African artist is changing the way viewers understand Picasso’s Guernica Airbnb faces familiar battle in Cape Town First look at war-related inflation sparks political jostling View: China’s state businesses are reshaping markets in Africa US issues Nigeria travel warning over terrorism, kidnapping FirstRand exits UK business after regulatory hit Afreximbank’s $800M answer to Fitch Exclusive: Navy takes nuclear-powered sub offline after $800 million cost run-up Cuba leader says he will not step down Fed, Treasury summon Wall Street chiefs over AI fears How Bluesky earned its reputation — and why it could be the way of the future China eyes stronger Taiwan influence Orbán slams Hungary’s opposition as he trails in polls Iran war reshapes air travel, perhaps for the long term Tehran residents embrace calm amid tenuous truce Countries lack fiscal capacity to handle war fallout Higher producer prices ease China deflation fears Trump ‘optimistic’ on Iran peace talks Inside the five-year succession plan at a $130B warehouse giant Georges Elhedery on HSBC’s big bets on the Gulf and Asia Warsh’s Fed hearing slips past next week Moore takes on the Sun’s ‘MAGA billionaire’ and more Debatable: AI titans influencing regulation Americans still think taxes are too high, poll finds Lawmakers await Pentagon’s mystery funding request Semafor convenes largest US CEO gathering next week in Washington American Gen Zers are growing more uneasy about AI Amazon defends high AI spending AI turbocharges Chinese microdrama industry OpenAI pauses UK Stargate project UK rejects Iran’s Hormuz toll plan Israel, Lebanon to hold direct talks Republicans fight among themselves over their long pre-election to-do list Exclusive: Gulf sovereigns quadruple private credit portfolios Abu Dhabi’s Mubadala soars after dealmaking spree View: Ceasefire offers respite, but no quick rebound for the Gulf A Saudi oil magazine is publishing some of the best writing about the Islamic world Exclusive: SpaceX bankers game plan to blunt post-IPO selling tsunami Exclusive: Hormuz closure turns truckers into logistics saviors View: As Republicans embrace AI in campaigning, Democrats bet on a backlash Oil prices remain high despite Iran ceasefire Ancient philosopher text unearthed Panama pushes back against China in canal row China’s yuan set to strengthen due to Middle East war View: Ceasefire shows the power of Iran’s energy weapon EU faces ‘stagflation’ over war, economy official warns Trump slams NATO again Iran war support Iran maintains firm grip on Hormuz traffic Israel’s attacks in Lebanon threaten Iran war truce VP Vance to lead Iran truce talks in Pakistan Exclusive: Democrats pressure Pentagon over new media restrictions Exclusive: Ex-diplomat says war has permanently harmed Qatar-Iran ties Israel’s Netanyahu says Iran ceasefire is not ‘end of the war’ Iran truce already in doubt Exclusive: Saudi’s $100 billion electronics fund removes head, drops chip ambitions Trump administration expected to keep waiving Russian oil sanctions as Iran call looms Democrats to force Iran vote next week View: Why OpenAI’s slowdown isn’t as bad as it looks AI research foundation releases test that will warn when AGI arrives Data-center proponents targeted by shooter Exclusive: Microsoft says AI voice command needs more work Anthropic’s Mythos won’t solve the cybersecurity crisis View: Africa begins to feel economic pain of Iran war Gulf countries push nationals to take private sector jobs Türkiye’s chance to take on the Gulf as a haven for business Gulf stocks surge and oil falls after ceasefire deal Lagos celebrates Afro-Brazilian legacy through carnival Ghana hands major gold mine to local operator Zambia-Lobito rail link to cost up to $5 billion Afreximbank unveils $10B support plan for Africa to ease Iran war impact Dangote refinery increases exports amid Iran war supply shocks Global shipping disruption rocks Kenyan economy Democracy improves globally though gains are uneven, report says Cuba launches new banknotes to help ease transactions China’s graft drive ‘has not worked,’ analysts say UK Navy deploys anti-drone weapons amid global scramble All eyes on Hormuz traffic after ceasefire unveiled What Sharpton wants to hear from 2028’s Democratic contenders Iran ceasefire is a diplomatic triumph for Pakistan Oil drops on Iran-US ceasefire news Iran, US agree to two-week ceasefire Fewer in US, Canada see good job opportunities, report finds Exclusive: OpenAI goes after Ari Emanuel’s WME in Musk legal drama Trump agrees to suspend Iran attacks for two weeks Trump backs off threat to annihilate Iran Indian business delegation visits China in sign of bilateral thaw US AI firms team up in bid to counter Chinese ‘distillation’ More airlines cut flights, raise costs Global hedge funds respond to war shocks US targets pillars of Iran economy View: AI is testing the oldest debate in business: Who’s the customer? Bill Ackman tries again with $60B Universal Music Group bid Exclusive: Gulf conferences at risk from Iran war Why Oura is running toward Washington oversight
Xcel Energy CEO says US must scale up power infrastructure to meet AI challenge
Steve Gelsi · 2026-04-09 · via Semafor

The US must scale up its power infrastructure at a rapid pace not seen in at least 10 years to compete in a world of artificial intelligence, Xcel Energy CEO Bob Frenzel said Tuesday.

“We need to build at a pace of generation and transmission that we haven’t seen in the past decade,” Frenzel said at Semafor World Economy in Washington, DC. “It’s not impossible to achieve, but it’s gonna take a real committed effort from the federal government, state, and local governments.”

Frenzel pointed to the ambitious projects undertaken from the 1940s to 1960s, such as the interstate highway system, ports, airports, and the American electric grid, described as one of the greatest engineering feats of the 20th century.

The US needs to speed up the citing, permitting, and construction process of similarly large-scale infrastructure projects today, even if they make people “somewhat uncomfortable,” he added.

Frenzel also said that the conflict in Iran has shown the importance of maintaining a “resilient” national energy program, pointing to the importance of developing alternative energy sources such as wind and solar farms and nuclear reactors.

Speaking on the same panel at Semafor World Economy, Edison International CEO Pedro J. Pizarro said that the US needed every possible energy source in order to meet demand. “For us, all of the above means all of the above,” said Pizarro, citing former US President Barack Obama’s policy toward embracing all forms of energy generation.

If US consumers shift toward EVs instead of gas vehicles, their overall energy cost may drop, he added.