5 Data Center Power Stocks to Watch Before Earnings
Russia’s Crude Exports Set to Fall as Diesel Production Rises Endurance Energy made net-positive power… NASA's solid-state battery survived minus… What I Cover My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market… Wall Street has spent the last three weeks punishing the companies that build and equip AI data centers, which would make more sense if anyone could point to the orders drying up.
As of Friday, that group wasdown a median 23%since the S&P 500’s record close on Oct.
6, while the Big Tech companies actually writing the checks were down only 5%.
A dozen of the biggest builders and power suppliers lost more than $300 billion in market value over the stretch, including $54 billion at GE Vernova, $30 billion at Eaton and $25 billion at Quanta Services.
Last Thursday’s leg down came after Meta’s latest earnings reportreignited worries about AI infrastructure spending, but the physical shortage hasn’t changed.
Jefferies’ Aniket Shah told Yahoo Finance that “the biggest constraint right now for the AI build-out is power,”U.S.
transformer supply is running about 15% short this yearaccording to Wood Mackenzie, and Apollo’s Torsten Sløk puts lead times at transformer makers at as long as 26 months.
Whether the power comes from gas, solar or nuclear, somebody has to build the turbines, transformers, switchgear and batteries it runs through, and those factories are booked years out.
Three of the five companies below report within a week, so we are about to find out whether the order books still look the way they did in the summer.
GE Vernova (NYSE: GEV) would probably like to talk about something other than its stock.
Since GE spun it off in 2024 it has been the poster child for the power crunch, and it ended the second quarter with a$176 billion backlog, nearly four times the revenue it expects this year.
The shares slid toabout $823last week anyway, their lowest since March 31.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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