Energy Infrastructure
AI data centres use enormous amounts of electricity. A single large data centre can use as much power as a small city. Someone has to generate that power reliably.
Compute is just electricity in disguise. Every prompt, every training run, every model evaluation is paid for in joules. The AI boom is, at its heart, the largest sustained increase in electrical demand the developed world has seen in decades. Utilities, fuel cell makers, nuclear operators and grid engineers are now strategic AI suppliers, even if they would never describe themselves that way.
Bloom Energy
Makes fuel cells that can power data centres without relying on the grid. Always on, no outages.
Babcock & Wilcox, Oklo
Nuclear plays, including small modular reactor designs aimed at powering data centres directly. AI needs baseload power that solar can't guarantee on its own.
Why does AI use so much water and energy?
Training a large AI model requires running thousands of chips at full capacity for weeks or months. Chips generate enormous heat. Data centres cool that heat using water based cooling systems. A single large training run can use millions of litres of water and enough electricity to power a small town. This is why energy infrastructure, Bloom Energy, nuclear plays, alternative energy, is a genuine AI investment thesis, not a peripheral one.