CNBC's Emily Wilkins reports on the House of Representatives passing a bill aimed at making it easier to get federal permits to build infrastructure for artificial intelligence projects.

Washington

The release of Open AI's ChatGPT has accelerated the development of artificial intelligence and warnings about its impact on society.

Rise of AI

The U.S. House of Representatives has approved a bipartisan bill designed to speed up the building of data centers, transmission lines, and the energy infrastructure necessary to support artificial intelligence technologies. The legislation received support from both parties, with 11 Democrats joining Republicans in favor, following lobbying efforts from companies such as Meta, OpenAI, Google, and Micron.

The bill will now proceed to the Senate, where lawmakers have indicated a strong interest in permitting reform and further bipartisan cooperation. The passage of this bill could have implications for companies involved in AI and data center operations, as related stocks may be affected by the legislative developments.

House passes bill that would help advance AI data center buildout

Scott, you know, you just talked about Micron, you've talked about AI, both of those have just notched a major win in the House, they have just passed regulation that would basically help speed up data centers, the building of data centers, as well as the building of transmission lines and of course the power and the energy that is much needed to power those data centers. And it actually passed the House with bipartisanship, you saw about 11 Democrats cross the aisle and vote with Republicans on that. And again, this has been something that Meta, OpenAI, Google, Micron, they have all lobbied for. Now that it's passed the House, it's going on to the Senate, we do expect Senators to put their own touch on this particular piece of legislation, but I know that Majority Leader John Thune as well as others have called permitting reform a huge priority for them this year and certainly as we've seen, something that can get done in a bipartisan manner. Scott? Alright, Emily, that's interesting news for certain and we're going to take a look at some of the stocks that may be on the move as a result, already having a pretty decent day as we see.

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House passes bill that would help advance AI data center buildout

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