The Index › AI compute
Who supplies the power?
The companies that generate it, move it, or fuel it: power plants, pipelines, uranium, solar, batteries, and the grid equipment in between.
Power, not chips, is the constraint: The power to run AI, not the chips, now sets the pace.
Spare rented computing capacity moves work around; it does not cancel new power and cooling construction, which follows capital spending, not chip scarcity.
What would prove us wrong
Hyperscaler capital-spending guidance cut at the late-October reports; or a data center of 100 megawatts or more publicly deferred citing surplus; or Vertiv cutting its growth guidance. (Vertiv stopped reporting quarterly orders and backlog in February; we watch deferred revenue and growth guidance instead.)
Review 2026-11-15 · check: hyperscaler 10-Qs; Vertiv's earnings release · the claim's page
Reports next, in this group
Oklo10 Nov · expected, per Nasdaq
Fluence Energy23 Nov · expected, per Nasdaq
Uranium Energy9 Dec · expected, per Nasdaq
| Company | What it sells | Reports next |
|---|---|---|
| Antero Resources AR |
Antero Resources produces natural gas from wells in the Appalachian Basin, supplying fuel for power generators. | not yet announced |
| Array Technologies ARRY |
Array Technologies makes solar tracking systems that tilt panels toward the sun to generate electricity. | not yet announced |
| BWX Technologies BWXT |
BWX Technologies makes nuclear reactor components and fuel for the US government and navy. | not yet announced |
| Bloom Energy BE |
Bloom Energy makes fuel cells that generate electricity on-site from natural gas or hydrogen, supplying power to data centers and other large computing facilities. | not yet announced |
| Centrus Energy LEU |
Centrus Energy supplies enriched uranium fuel for nuclear reactors that help generate the electricity data centers depend on. | not yet announced |
| Comstock Resources CRK |
Comstock Resources produces natural gas from the Haynesville shale in Louisiana and Texas, selling to Gulf Coast markets. | not yet announced |
| Constellation Energy CEG |
Constellation Energy sells electricity generated at its nuclear and gas plants, supplying the grids that data centers draw from. | not yet announced |
| EQT EQT |
EQT produces natural gas, much of which feeds power plants and data centers. | not yet announced |
| Energy Fuels UUUU |
Energy Fuels mines uranium and rare earth minerals in the United States and is building capacity to process them into magnet-grade materials. | not yet announced |
| Energy Transfer ET |
Energy Transfer moves and stores natural gas and crude oil through pipelines and terminals, feeding fuel to gas-fired power plants. | not yet announced |
| Excelerate Energy EE |
Excelerate Energy runs floating terminals that turn liquefied natural gas, gas chilled into liquid for shipping, back into gas for power plants. | not yet announced |
| First Solar FSLR |
First Solar makes thin-film solar panels and sells them to power developers. | not yet announced |
| Fluence Energy FLNC |
Fluence Energy sells battery storage systems and software that utilities and grid operators use to store power. | 23 Nov · expected, per Nasdaq |
| Fluor FLR |
Fluor is an engineering and construction firm that builds the plants and infrastructure needed to generate and deliver power. | not yet announced |
| GE Vernova GEV |
GE Vernova makes equipment and provides long-term services for companies that generate electricity and feed it onto the grid. | not yet announced |
| MPLX MPLX |
MPLX owns pipelines, terminals and processing plants that move and store crude oil and natural gas, which feed power generation. | not yet announced |
| NRG Energy NRG |
NRG Energy sells electricity and power-generation services to retail and commercial customers, delivering power from its plants to end users. | not yet announced |
| Nano Nuclear Energy NNE |
Nano Nuclear Energy designs small modular nuclear reactors meant to supply electricity to data centers. | not yet announced |
| NextDecade NEXT |
NextDecade develops liquefied natural gas export terminals on the Texas Gulf Coast. | not yet announced |
| Nextracker NXT |
Nextracker makes solar tracking systems and mounting hardware that tilt panels toward the sun. | not yet announced |
| NuScale Power SMR |
NuScale Power designs small modular nuclear reactors that data centers and utilities could use to generate electricity. | not yet announced |
| ONEOK OKE |
ONEOK owns and operates pipelines that carry natural gas and natural gas liquids to customers. | not yet announced |
| Oklo OKLO |
Oklo designs small modular nuclear reactors that aim to supply electricity to data centers and other large power users. | 10 Nov · expected, per Nasdaq |
| Ormat ORA |
Ormat builds and runs geothermal power plants that sell electricity to utilities and data centers. | not yet announced |
| Shoals SHLS |
Shoals makes electrical wiring and connection products that carry power from solar arrays to inverters. | not yet announced |
| Talen Energy TLN |
Talen Energy owns and operates power plants, including nuclear facilities, and sells electricity into regional wholesale markets, mainly in the mid-Atlantic United States. | not yet announced |
| Uranium Energy UEC |
Uranium Energy mines and sells uranium, the fuel used in nuclear reactors. | 9 Dec · expected, per Nasdaq |
| Vistra VST |
Vistra owns and operates power plants and sells electricity to utilities and large customers. | not yet announced |
| Williams WMB |
Williams operates natural gas pipelines that carry fuel to the power plants supplying electricity to data centers. | not yet announced |
Showing 29 of 29 · No price is shown: the Index is a map of what each company sells and where it sits, not a quote board.
Next door
Who supplies the rebuilding of defense? · Whose economics did the 2025 tax law change? · Who holds data the public web cannot reach?