Estelle Brachlianoff, the CEO of Veolia, the world's largest environmental-services company, describes artificial intelligence as a "two-sided coin." She highlights that while AI can offer solutions for a more sustainable future, it also presents challenges, particularly due to the massive consumption of electricity and water by AI-powered data centers. Veolia is actively providing services to companies to help mitigate these environmental impacts.
Veolia plans a substantial increase in its revenue from AI-related industries, aiming for nearly $1.2 billion (€1 billion) by 2030. This is a significant jump from the $560 million (€560 million) generated last year from data center operators and chip manufacturers. The company's strategy involves offering services such as capturing wasted heat, reusing cooling water, and treating electronic waste and chemicals.
This expansion into AI-related environmental services comes as Veolia is also growing its presence in the US hazardous waste business. In January 2026, Veolia agreed to acquire Enviri’s hazardous waste unit for $3 billion, effectively doubling its footprint in the US. This move is driven by surging demand for clean water, PFAS cleanup, and sustainable solutions for AI data centers and manufacturing.
The broader AI market currently faces volatility concerns, with crowded positioning and high leverage in ETFs and options-related hedging creating a "treacherous landscape," as reported in June 2026. While the long-term AI narrative remains strong, the immediate picture is becoming murky due to these factors and sharp rises in both prices and swings across semiconductor stocks. Despite these market dynamics, Veolia's focus remains on providing essential environmental services to the burgeoning AI sector, addressing its inherent resource demands.
