Ted Zhang
Portfolio Manager of Turbotection at Revere Asset Management
Constellation Energy's long-term contracts and growing nuclear-power demand underpin its appeal. It signed 15- to 20-year deals with Google, Amazon and Walmart in 2026, yet its forward P/E has fallen to about 20x from a massive 2025 premium. It looks like an even better bet today. x.comÂ
AI needs watts, not just chips, and that is reviving demand for coal producers such as Peabody, Warrior Met Coal, Alliance Resource Partners and Core Natural Resources. Coal plant retirements are being reversed across the US to keep data centers running, the DOE has over 300 requests for new data-center sites, and renewables and nuclear cannot scale fast enough. 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
EQT has convexity because low investment in natural gas collides with rising LNG and datacenter demand. The gas basin isn't that deep. x.comÂ
Hallador Energy owns Merom Generating Station, the only major vertically integrated power asset in Sullivan County, beside the 2.1GW Fluidstack/Google campus, and data center power demand outweighs coal's environmental concerns. Pairing coal with solar and batteries makes it palatable, and a reply notes Google's investment-grade credit and completed financing. Risks are water, as a dewatering lawsuit could freeze the project for 24 months, and dilution after a $50 million equity offering. x.com … Show more
Vistra, ProPetro, SOLV Energy and Fluence together cover the power needed for the data center buildout: generation, gas-to-power, grid and storage. Each is available at a decent to great entry point. x.comÂ
AI data centers' power needs support a portfolio spanning onsite generation, nuclear, grid hardware and fuel. Oklo offers onsite nuclear and Bloom fuel cells that bypass the grid; Constellation has nuclear baseload under a 20-year Microsoft PPA and Vistra a 20-year Meta deal. GE Vernova supplies grid hardware, Vertiv cooling and power systems, Eos long-duration storage and NextEra a renewable pipeline, while Centrus supplies HALEU for modular reactors and Energy Fuels domestic uranium. x.comÂ
Cleveland-Cliffs is one of the best stocks in the entire market because investors are overlooking how much steel will be needed to build all the new data centers. x.com x.comÂ
CleanSpark has the most asymmetric upside among neoclouds as rising hyperscaler capex drives a neocloud summer. It has over 1.8 GW of power and just signed a 20-year, $6.6 billion triple-net lease with near-100% margins with an unnamed hyperscaler, rumored to be Meta. Contracted revenue could reach $11.6 billion, three times its market cap. Being earlier in its shift from bitcoin mining to AI data centers means a bigger potential re-rating. Leopold Aschenbrenner owns ~5%; short interest is 32%. … Show more
Vistra is growing exponentially on the AI buildout yet trades at 17 times forward earnings and a 0.5 five-year PEG on a $56B market cap. It has a deeply diversified energy footprint with one of the largest nuclear fleets in the US, and Meta and Amazon are among its biggest customers. The chart is one of the best setups around, and almost no one is paying attention. x.comÂ