"Celebrity Investor" O'Leary Pimps $70 Billion AI Site In Nowhere, Alberta As Next Silicon Valley (No Known Investors)
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Meanwhile in Alberta, things were decidedly more weird, less certain, and a lot more carbon intensive. Celebrity investor Kevin O’Leary released a surreal video to promote his proposed $70 billion natural gas-powered AI data center south of Grande Prairie in what Mr. Wonderful is modestly calling Wonder Valley, “where technology and nature come together in perfect harmony.” Whether sought-after AI tech talent can be lured from San Francisco to an oil and gas town five hours northwest of Edmonton remains to be seen. What is clear is that Mr. O’Leary does not have $70 billion, nor were committed investors or data center customers included in AI video or press release.
The hopeful hype from O’Leary also comes just a week after the Alberta government said they want to attract $100 billion in AI data centres to the province in the next five years. DeSmog has previously documented how ballooning energy demand from AI is seen by the fossil fuel industry as the next big growth opportunity. In contrast to B.C.’s new wind projects, the “Wonder Valley” press release makes no mention of signed Indigenous equity partnerships, just a vague pledge to “engage with First Nations Indigenous communities to create a mutually beneficial relationship.” The only announceable aspect amidst the Wonder Valley hype was a presumably non-binding letter of intent signed with the Municipal District of Greenview, which has fewer than 9,000 residents in an area about the size of Maryland.
The fanfare announcement seems less about high tech and more about burning natural gas. O’Leary expounded to CBC News on why he is choosing to locate what he calls Canada’s biggest-ever real estate deal in the remote boreal forest at the same latitude as James Bay. “You can do that in Alberta for one singular reason, 200 trillion cubic feet of sweet natural gas that you can burn very efficiently with a two-cycle turbine, practically close to carbon neutral and create unlimited power.” Really? Combined cycle natural gas turbines emit about 425 grams per kilowatt hour of energy. O’Leary’s planned 7.5 gigawatt of natural capacity would result in about 27 megatonnes of new emissions every year – the equivalent of putting over six million more cars on the road.
Despite few tangible details, Premier Danielle Smith was quick to chime in with her support, calling the project “fantastic news for Alberta.” What is less fantastic is O’Leary’s record of business success, or lack thereof. So spotty are his past business dealings that he garnered exposés in Maclean’s and the National Observer. Also enjoy the Observer’s Max Fawcett’s scathing take-down of the Wonder Valley scheme.
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https://www.desmog.com/2024/12/20/why-is-alberta-falling-for-kevin-olearys-ai-data-centre-stunt/
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