When World Bank president Ajay Banga signalled his willingness to drop the institution's ban on funding nuclear energy projects, it marked a moment when the institution aligned closer with President Donald Trump's administration, which is seeking to usher in a so-called nuclear renaissance in its quest to be the world's dominant player in artificial intelligence.
The World Bank has not supported nuclear energy since 1959 but the potential for a clean alternative to fossil fuels and the advancements promised by the advent of AI are leading to a resurgence in demand.
“Small nuclear reactors could be transformative,” Mr Banga said during a recent event hosted by the Economic Club of Washington. He hopes to introduce it to the board next year.
Mr Banga framed his reasoning behind the growing demand for electricity needed to lift developing areas out of poverty. “You're not going to do that by thinking like yesterday. You have to change that paradigm,” he said.
But that shift at the World Bank would ostensibly align it with Republicans in Congress who are pushing for a bill that would support financing nuclear energy through development banks. The bill, initially introduced in 2023 before being rekindled, would also advocate the establishment of a nuclear energy assistance trust fund.
Rachel Ziemba, founder of Ziemba Insights and senior adjunct fellow at the Centre for a New American Security, said the World Bank supportingnuclear energy could stave off some disappointment from the Trump administration over the funding of renewable projects.
“I'm sure that the World Bank's president is still coming from that point [of view],” she said.
This comes as the US renews its push to invest in nuclear energy. Energy Secretary Chris Wright has called it “the long-awaited American nuclear renaissance”.
Data centres housing AI projects require immense amounts of energy, explained Cullen Hendrix, a senior fellow at the non-partisan Peterson Institute for International Economics think tank in Washington.
According to a study by the Lawrence Berkeley National Laboratory in California last year, data centres will consume between 6.7 per cent to 12 per cent of US electricity by 2028, up from 4.4 per cent in 2023. Total electricity usage from these data centres will rise from 176 Terawatt-hours (TWh) in 2023 to between 325 and 580 TWh by 2028.
“To put that in perspective, 580 TWh is about as much energy as the entire country of Brazil, home to 210 million people, consumed in 2023,” Mr Hendrix told The National via email.
Former president Joe Biden's administration created plans in the his final months in office to at least triple US nuclear energy capacity by 2050. He also hailed bipartisan legislation passed last summer that the administration said would help secure a clean-energy future.
In the early months of his second term, Mr Trump has made a series of moves to step up America's AI dominance, including declaring a national energy emergency.
The White House served as the backdrop of an announced investment up to $500 billion from Oracle, OpenAI and SoftBank to develop AI infrastructure in the US and the electricity needed to develop it. UAE-based technology fund MGX joined the project as an initial equity financier.
Mr Trump has touted this project and other developments in AI infrastructure since before his inauguration. Several of those pledges have come from the UAE – itself an important player in advanced technology. The US and UAE also collaborate on peaceful nuclear co-operation through the "123 Agreement" signed in 2009.
“This is a key part of the story,” said Ms Ziemba.
The White House last week announced the UAE had committed to a 10-year, $1.4 trillion investment framework to step up the Emirates' existing investments in the US involving AI infrastructure, semiconductors, energy and manufacturing.
“Co-operating and investing in nuclear facilities is definitely something that the US and UAE will be talking about, along with their ongoing conversations about AI more generally,” Ms Ziemba said.
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, called for more nuclear and other energy sources to meet rising electricity demand. The UAE sees the US as a major business partner in technology and energy.
Mr Al Jaber's remarks at an annual energy conference in Houston echoed Mr Wright's own speech at the same event, arguing the US must have access to reliable and affordable energy if the country is to win the AI race.
“It takes massive amounts of electricity to generate intelligence. The more energy invested, the more intelligence produced," Mr Wright said. "Since the demand for energy is unlimited, since the demand for intelligence is unlimited, so will be the demand for energy."
UAE currency: the story behind the money in your pockets
Mohammed bin Zayed Majlis
Zayed Sustainability Prize
Mohammed bin Zayed Majlis
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
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Valencia 3
Kevin Gameiro 21', 51'
Ferran Torres 67'
Atlanta 4
Josip Llicic 3' (P), 43' (P), 71', 82'
Killing of Qassem Suleimani
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
if you go
The flights
Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return.
The trek
Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The years Ramadan fell in May
