Everyone's talking about AI's power consumption, but AI's water consumption may be a major issue the market hasn't yet noticed. I just read a Morgan Stanley research report discussing this issue. Some startling statistics: 11-fold growth: By 2028, AI data centers are projected to consume 1.068 trillion liters of water annually, 11 times the amount in 2024. "Invisible" consumption: This isn't just water used for server cooling (Scope 1). A larger portion is the water needed to power them (Scope 2). Chip manufacturing (Scope 3) is also a significant water consumer. Supply shortage: Crucially, more than half of the world's major data centers are located in regions with "moderate water scarcity risk." AI water consumption is "small in absolute terms but growing rapidly, with significant regional supply chain risks." Water is becoming a bottleneck for AI infrastructure, just as critical as electricity. It seems that Bitcoin mines also have water problems. A study in 2023 showed that cryptocurrency mining consumes 1.859 billion tons of water annually (1 ton per capita per month, equivalent to the annual water consumption of 150 million people), and it is expected to increase sixfold by 2030.