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Energy
The power behind the compute
Data-center demand is colliding with a grid that can't keep up — some forecasts put global data-center spend near $7 trillion by 2030. The bottleneck on AI is turning from chips to electrons.
We track the reactors, the merchant power, the fuel cycle, and the data-center power and cooling underneath the build-out.
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60 companies
Eaton Corporation plcETN
Market cap$170B
Conviction5 / 5
ElectrificationData-center power & cooling
Read profileFirst Solar, Inc.FSLR
Market cap$21B
Conviction5 / 5
Solar
Read profileNextpower Inc.NXT
Market cap$12B
Conviction5 / 5
Solar
Read profileQuanta Services, Inc.PWR
Market cap$95B
Conviction5 / 5
ElectrificationGrid infrastructure
Read profileSchneider Electric SESU
Market cap$188B
Conviction5 / 5
Data-center power & coolingElectrificationGrid infrastructure
Read profileSiemens AGSIE
Market cap$243B
Conviction5 / 5
Industrial automationElectrification
Read profileSiemens Energy AGENR
Market cap$140B
Conviction4 / 5
Grid infrastructureData-center power & cooling
Read profileCaterpillar Inc.CAT
Market cap$373B
Conviction4 / 5
Data-center power & coolingElectrification
Read profileBWX Technologies, Inc.BWXT
Market cap$13B
Conviction4 / 5
Nuclear fuelSmall modular reactors
Read profileEMCOR Group, Inc.EME
Market cap$33B
Conviction4 / 5
Data-center power & coolingElectrification
Read profileComfort Systems USA, Inc.FIX
Market cap$57B
Conviction4 / 5
Data-center power & cooling
Read profileLegrand SALR
Market cap$41B
Conviction4 / 5
Data-center power & coolingElectrification
Read profileNextEra Energy, Inc.NEE
Market cap$161B
Conviction4 / 5
Data-center power & coolingSolarGrid infrastructure
Read profileTrane Technologies plcTT
Market cap$96B
Conviction4 / 5
Data-center power & coolingElectrification
Read profileConstellation Energy CorporationCEG
Market cap$93B
Conviction4 / 5
Merchant power
Read profileNAC Kazatomprom JSCKAP
Market cap$18B
Conviction4 / 5
Nuclear fuel
Read profileVertiv Holdings CoVRT
Market cap$96B
Conviction4 / 5
Data-center power & cooling
Read profileGE Vernova Inc.GEV
Market cap$254B
Conviction4 / 5
Grid infrastructureData-center power & cooling
Read profileonsemi (ON Semiconductor)ON
Market cap$29B
Conviction4 / 5
Power semiconductorsData-center power & coolingElectrification
Read profileDelta Electronics, Inc.2308
Market cap$155B
Conviction4 / 5
Data-center power & coolingAI infrastructure
Read profileCurtiss-Wright CorporationCW
Market cap$20B
Conviction4 / 5
Defense primesAerospace components
Read profileHubbell IncorporatedHUBB
Market cap$24B
Conviction4 / 5
Grid infrastructureElectrification
Read profilenVent Electric plcNVT
Market cap$26B
Conviction4 / 5
Grid infrastructureData-center power & cooling
Read profileCameco CorporationCCJ
Market cap$40B
Conviction4 / 5
Nuclear fuel
Read profileCentrus Energy Corp.LEU
Market cap$3.0B
Conviction4 / 5
Nuclear fuel
Read profileCummins Inc.CMI
Market cap$72B
Conviction4 / 5
Data-center power & coolingElectrification
Read profileVistra Corp.VST
Market cap$46B
Conviction4 / 5
Merchant power
Read profileNexans S.A.NEX
Market cap$7.0B
Conviction4 / 5
Grid infrastructureElectrification
Read profilePower Integrations, Inc.POWI
Market cap$2.9B
Conviction4 / 5
Power semiconductorsElectrification
Read profileDominion Energy, Inc.D
Market cap$54B
Conviction4 / 5
Data-center power & coolingGrid infrastructure
Read profileNRG Energy, Inc.NRG
Market cap$21B
Conviction4 / 5
Merchant power
Read profilePowell Industries, Inc.POWL
Market cap$7.0B
Conviction3 / 5
Grid infrastructureData-center power & cooling
Read profilePublic Service Enterprise Group IncorporatedPEG
Market cap$34B
Conviction3 / 5
Data-center power & coolingNuclear fuel
Read profileFervo EnergyPrivate
Market cap—
Conviction3 / 5
Next-gen geothermalData-center power & cooling
Read profileForm Energy, Inc.Private
Market cap—
Conviction3 / 5
Grid infrastructure
Read profileBloom Energy CorporationBE
Market cap$81B
Conviction3 / 5
Data-center power & cooling
Read profileEnphase Energy, Inc.ENPH
Market cap$4.4B
Conviction3 / 5
Solar
Read profileZhejiang Sanhua Intelligent Controls Co., Ltd.002050
Market cap$20B
Conviction3 / 5
Humanoid hardwareElectrification
Read profileThe Southern CompanySO
Market cap$96B
Conviction3 / 5
Data-center power & coolingGrid infrastructure
Read profileUranium Energy Corp.UEC
Market cap$4.9B
Conviction3 / 5
Nuclear fuel
Read profileEnergy Fuels Inc.UUUU
Market cap$3.1B
Conviction3 / 5
Rare earths & magnetsNuclear fuel
Read profileModine Manufacturing CompanyMOD
Market cap$10B
Conviction3 / 5
Data-center power & cooling
Read profileTalen Energy CorporationTLN
Market cap$14B
Conviction3 / 5
Merchant powerData-center power & cooling
Read profileNexGen Energy Ltd.NXE
Market cap$6.5B
Conviction3 / 5
Nuclear fuel
Read profileFluence Energy, Inc.FLNC
Market cap$1.1B
Conviction3 / 5
Grid infrastructure
Read profileIREN LimitedIREN
Market cap$19B
Conviction3 / 5
Data-center power & coolingMerchant power
Read profileThe AES CorporationAES
Market cap$11B
Conviction3 / 5
Data-center power & coolingGrid infrastructure
Read profileDenison Mines Corp.DNN
Market cap$2.6B
Conviction3 / 5
Nuclear fuel
Read profilenewcleo Ltd.Pre-IPO
Market cap—
Conviction3 / 5
Small modular reactorsNuclear fuel
Read profileKairos Power LLCPrivate
Market cap—
Conviction2 / 5
Small modular reactors
Read profileNano Nuclear Energy Inc.NNE
Market cap$913M
Conviction2 / 5
Microreactors
Read profileOklo Inc.OKLO
Market cap$7.2B
Conviction2 / 5
Microreactors
Read profileRadiant Industries, Inc.Private
Market cap—
Conviction2 / 5
Microreactors
Read profileNuScale Power CorporationSMR
Market cap$3.6B
Conviction2 / 5
Small modular reactors
Read profileTerraPower, LLCPrivate
Market cap—
Conviction2 / 5
Small modular reactorsMicroreactors
Read profileTerrestrial Energy Inc.Private
Market cap—
Conviction2 / 5
Small modular reactorsMicroreactors
Read profileX-energy, Inc.XE
Market cap$4.7B
Conviction2 / 5
Small modular reactors
Read profileFuelCell Energy, Inc.FCEL
Market cap$1.4B
Conviction2 / 5
Data-center power & coolingElectrification
Read profileLightbridge CorporationLTBR
Market cap$237M
Conviction2 / 5
Nuclear fuel
Read profileFermi Inc.FRMI
Market cap$3.1B
Conviction1 / 5
Data-center power & coolingMicroreactors
Read profile