AI Energy

$AIENERGY cuts:PNW: Arizona is seeing data-center and advanced-manufacturing growth, but the current public case is still broader “Arizona growth” rather than a standout, named AI/data-center exposure story versus other options. * ET: good midstream business, but the current materials I found show strong general volume growth rather than a sharp, differentiated AI/data-center thesis. * Trim IDA: Idaho Power does have exposure, including Meta in Kuna, but the company itself says residential demand is the largest share of near-term year-over-year load growth, so I would keep it smaller if the objective is specifically AI/data centers. * Trim ETR: not because the thesis is weak, but because 22.68% is too large for a single utility. Entergy is one of the strongest direct winners here, with multiple data-center agreements and Louisiana projects tied to Meta and Hut 8. Add * CEG: this is the cleanest direct “AI needs firm power” name. Constellation signed a 20-year Meta deal tied to the Clinton Clean Energy Center, and its 2025 sustainability report explicitly frames AI and hyperscale data centers as a major electricity-demand driver. * TLN: higher risk, higher upside. Talen expanded its relationship with Amazon in 2025 to supply electricity from Susquehanna for AWS operations supporting AI and cloud technologies. * NEE: I would add this as a cleaner, lower-beta growth utility/energy platform. NextEra announced a partnership with Google to scale multiple gigawatts of data-center capacity and energy infrastructure, and FPL has a large-load tariff designed to support data-center growth.