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Crypto Entrepreneur, Founder of Cambrian Labs
Eroc is a direct play on behind-the-meter power, because connecting a data center to the grid can take years while on-site generation keeps racks from sitting idle. Its on-site gas power and microgrids have real orders behind the power-shortage thesis: Microsoft signed up and Anthropic ordered 470 MW. x.comÂ
On-site power is the next immediate bottleneck for data centers, and Eroc's modular on-site gas power systems, like Bloom Energy's fuel cells and INIO's gas engines, can stand up power in under 12 months, the only quick way to get power now. Eroc is an easy buy at its low market cap, sitting in that bottleneck with an Anthropic deal signed this week. x.com x.comÂ
Neoclouds can be an incredible business only if they turn delivered GPUs into revenue on time. Power delays are harder to remedy than commissioning issues; idle GPUs earn nothing while financing costs mount, especially for smaller operators and those reliant on colocation. Energized sites and vertical control help, but GPUs or secured power alone are not enough. IREN has financing secured and Nebius looks less exposed to Musk's debt warning; smaller players may struggle to fund expansion. x.com … Show more
Vertebrai is one of MARA's smartest power moves because modular compute can earn on underused electricity before AI tenants arrive without locking up capacity. It can ramp down almost instantly when site owners need the power or grid sales pay more, then scale down or relocate for higher-value customers. x.comÂ
Jan Zuazo Pfingsten
Thematic Investor, Physical Scarcity & AI Infrastructure, Primary-Source Research
Bloom Energy's fast on-site generation could earn a premium by shortening the wait for AI compute. Anthropic's S-1 says it may buy generation equipment above prevailing market rates if it can be deployed faster. Some planned Anthropic data centers rely on dedicated on-site gas generation, and it has committed to cover consumer power-price increases they cause. Bloom's pitch is power in months rather than years waiting for the grid. x.comÂ
Electricity is a clear bottleneck for AI, favoring AI-focused power and data-center infrastructure names over residential utilities. The US could be short 107 GW to power data centers through 2029, while China adds capacity year after year. Medium-term preferences are Cipher, Hut 8, Riot, TeraWulf, Galaxy, Equinix, Bloom Energy, Solaris, Vistra, GE Vernova, INIO, Williams, Liberty Energy, EROC and Cummins. x.com x.comÂ
AI's electricity shortfall creates a massive opportunity for companies solving the power bottleneck. Morgan Stanley estimates a 32 GW US data-center power shortfall by 2028. Constellation Energy and Vistra are nuclear names, Bloom Energy in fuel cells, GE Vernova in power generation and Eaton in grid infrastructure. x.comÂ
Behind-the-meter power generation stocks should be rallying, since data-center permitting delays and a backed-up grid push demand toward on-site power. INIO is a prime example: the stock has sold off even though it is a massive behind-the-meter beneficiary with accelerating demand, especially as data centers become more modular and smaller. x.comÂ
Modine's cooling efficiency turns scarce data-center power into sellable compute, supporting demand for its equipment. Cooling uses 10-30% of site power; its machines deliver roughly 15-20% more cooling per watt than rivals. Separately, management's public probability buckets and customer timeline match a still-unconfirmed leaked pipeline; applying the reported conversion odds implies about $2.3B in FY2027 data-center revenue, above the top of guidance. Supply remains constrained. x.com x.comÂ
New Era Energy & Digital is a high-conviction power-first infrastructure bet: its Texas Critical Data Center pairs ERCOT grid access with on-site gas generation to skip multi-year interconnection queues. The 438-acre Permian Basin campus targets 1 gigawatt. A $290M Macquarie financing funds the initial phases and retired costly SharonAI debt, while partners Stream Data Centers and Energy Dome cut execution risk. Next catalysts: building the first 200MW phase and signing an anchor tenant lease. … Show more
Power-constrained AI clusters could support demand for Eaton's distribution, Vertiv's power and cooling, Vicor's conversion and Bloom Energy's on-site generation. Meta researchers model about 11% more cluster throughput within the same power budget by lowering GB200 GPU limits from 1,200W to 960W; distribution imbalances could strand 5-10% of capacity. Their 41GW one-year US generation increase is not directly comparable with multi-year datacenter plans. x.comÂ
AI data centers are hitting a power wall, which favors builders of heavy power and cooling hardware over chipmakers alone. Co-packaged optics let racks pack far more compute, but optical clusters draw enormous current, so new campuses need gigawatts the grid cannot supply, and utility hookups take 5-10 years. Vertiv supplies liquid cooling, Eaton and Powell switchgear and transformers, GE Vernova gas turbines for on-site power, and Bloom Energy fuel cells that skip the grid. x.comÂ
