AI Is Booming—But Can We Power It?

In this episode, Tim Horan, Managing Director and Senior Analyst at Oppenheimer, speaks with Nazar Khan, Co-Founder, COO, and CTO of TeraWulf, about the growing connection between AI, data centers, and energy. They discuss how rising demand for AI is driving a surge in data center construction—and why access to power is becoming a key constraint. The conversation also covers how companies are adapting by building more flexible data centers and finding new ways to manage electricity usage. © 2026 Oppenheimer & Co. Inc. Transacts Business on All Principal US Exchanges and is a Member of SIPC. 8810766.1