By 2030, the power consumption of AI data centers will soar by 160%. The power grid is becoming the ceiling for AI.
A power struggle has already begun.
In Huang Renxun's (AI isa 5-Layer Cake) long article, the foundation of the 5-layer cake is energy, so I will gradually break down the opportunities in the energy sector of the US stock market! The underlying revolution for future AI is the power revolution; AI servers and data centers require a large amount of electricity, and the power grid needs to be rebuilt. In the future, AI data centers may account for 5%–9% of electricity demand in the United States!
Since we have all seen the long-term trend, I hope we can seize some opportunities!
I also checked the current changes in the electricity structure in the United States. With the shale revolution, the extraction cost of natural gas has greatly decreased. Currently, 40% of electricity generation in the U.S. comes from natural gas, 26% from renewable energy, 18% from nuclear power, and 15% from coal. As far as I know, China's electricity composition is still dominated by coal. The main reason is still the difference in geographical resources. The follow-up of A-shares will also join the research!
If AI is an electricity revolution, where will the money flow?
I have broken down the entire industry chain into 5 parts:
1. Natural gas extraction companies
1. The largest natural gas producer:
-EQT Corporation: The largest natural gas producer in the U.S.
-Chesapeake Energy: One of the representative companies of the shale gas revolution.
-Antero Resources: Mainly mining natural gas in the Appalachian Basin.
-Range Resources: An important player in the Marcellus shale region.
2. Large integrated energy companies (natural gas + oil)
These companies also produce a large amount of natural gas:
-ExxonMobil
-Chevron
-ConocoPhillips
Natural gas power generation: Short construction cycle, low cost, can expand quickly with demand.
Many institutions predict that 60% of the new AI electricity demand will come from natural gas.
2. Wind power companies
The U.S. wind power market is mainly dominated by power companies and energy developers.
Wind power leader
-NextEra Energy: One of the largest wind power developers in the world.
-Ørsted: A global leader in offshore wind power.
-Invenergy: A large wind power developer in the U.S.
Wind power equipment manufacturers
-Vestas
-GE Vernova
3. Solar energy companies
Solar energy is one of the fastest-growing sources of electricity.
Solar power station operations
-NextEra Energy
-Brookfield Renewable Partners
Photovoltaic equipment companies
-First Solar: The largest photovoltaic manufacturer in the U.S.
-Enphase Energy
-SolarEdge
4. Nuclear power companies
In the AI era, nuclear power has suddenly started to receive attention again, because it is: stable + 24-hour power generation + zero carbon.
U.S. nuclear power leader
-Constellation Energy: The largest nuclear power operator in the U.S.
-Duke Energy
-Southern Company
Nuclear power technology companies
-NuScale Power: SMR small modular reactor.
-BWX Technologies
5. Companies that benefit most from energy in the AI era - grid and power equipment
After the explosion of AI computing power, the most关注ed in the energy stocks are the grid and power equipment, which require a large amount of transmission equipment, transformers, distribution equipment, etc. It is expected that investment in the grid may reach several hundred billion dollars in the next few years.
Electricity
-Constellation Energy
-Vistra
Grid construction
-Quanta Services
Power equipment
-Eaton
In conclusion, this round of AI market is essentially a revolution in power infrastructure. The most certain thing in the next 5–10 years is:
Whoever controls electricity, controls the speed of AI expansion!
I am just beginning to systematically sort out this direction. Many companies have only been glanced at and have not been deeply analyzed.
Later, I will do one thing: to dig deep one by one, to find the core companies that can truly benefit from AI.
If you are also paying attention to this direction, we can communicate together.