Investors are focusing on energy and power providers to increase exposure to the AI theme this year, according to BlackRock’s 2026 Investment Directions report. Survey respondents see energy as the most compelling opportunity, with 54% choosing it over other options like infrastructure and U.S. tech giants.

Despite this shift, only 7% of investors believe the AI theme is a bubble. BlackRock notes that interest in AI is expanding beyond core technology to the wider ecosystems supporting it, with energy and power providers emerging as key opportunities.

Goldman Sachs Research projects a 175% surge in data center power demand by 2030, equivalent to adding another top 10 power-consuming country. The investment bank emphasizes the importance of investing in power and water infrastructure amidst rising demand and aging systems.

The US faces a potential power crunch by 2030 due to soaring data center power demands overwhelming the grid’s capacity. Grid investments are falling behind, with interconnection requests outpacing grid capabilities, raising concerns about the nation’s ability to keep up with energy demands.

Read more at Yahoo Finance: Energy Providers Emerge As Top Investor AI Play for 2026