AI stock gains boost pensions as data center backlash grows
AI-related stock gains have helped increase public employee pension fund values, but opposition to data center construction is growing. The House passed the bipartisan Ratepayer Protection Act by a 417-3 vote to address electricity costs associated with AI data centers, though the measure stalled in the Senate.
Public employee pension funds have benefited from gains in artificial-intelligence-related stocks, rising from $5.8 trillion in 2023 to $7.3 trillion in June, according to Federal Reserve data.
At the same time, opposition to data center construction is intensifying because of concerns that AI facilities could increase electricity costs for consumers. The bipartisan Ratepayer Protection Act passed the U.S. House of Representatives 417-3 but stalled in the U.S. Senate.