New York, New York - Seven tech giants at the forefront of artificial intelligence committed Wednesday to offsetting the costs of their increased electricity needs through investments in energy infrastructure.

To develop and use AI, the main players in the sector use data centers, whose chips and servers consume a lot of electricity.

But installed energy capacity is not growing as fast as demand, which has led to a sharp rise in electricity prices in many parts of the US, a phenomenon that has become a campaign issue in the run-up to the November midterm elections.

The tech companies promised to finance new capacity when a center is built and to cover any costs of upgrading the grid.

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Data centers accounted for 4.4% of total electricity consumption in the US in 2023, according to the Department of Energy, which predicts that the proportion could reach as much as 12.0% by 2028.

On Wednesday, the Trump administration announced that Google, Microsoft, Meta, Oracle, xAI, OpenAI, and Amazon had agreed to the five principles of its plans to make the installation of new data centers a benefit to all.

President Donald Trump "is ensuring that data centers address affordability and benefit ALL American households and businesses," the White House Office of Science and Technology Policy said in a post on X.

"Although electricity demand is increasing, Americans won't be footing the bill," it added.

The program also includes initiatives to recruit from local populations and offer training.