George Soros Is Betting Big on Utility Stocks as AI Power Demand Surges

The Public Utility Commission of Texas approved two statewide transmission lines, totaling over 400 miles, to deliver electricity to oil, gas, and industrial sectors. The unanimous vote authorized Oncor's applications, despite landowner opposition and legislative calls for delay. The projects, part of the 2023 Permian Basin Reliability Plan, aim to alleviate energy bottlenecks but face legal challenges and environmental concerns.

Peter Thiel's hedge fund, Thiel Macro, reported a $418.7M portfolio, with seven of eight positions in energy companies, including Vista Energy, Vistra, and American Electric Power. The fund's largest holding is Amazon, at $118M, 28% of the portfolio, betting on AI-driven electricity demand.

American Electric Power (AEP) says large data center, hyperscaler, and industrial customers under take-or-pay contracts could offset up to $16 billion in residential infrastructure costs. AEP expects $78 billion of 2026-2030 capex, plus $10 billion incremental. Q2 revenue rose to $5.45B, GAAP EPS fell to $1.31. AEP raised 2026 operating earnings guidance to $6.25-$6.55.

American Electric Power (AEP) reported Q2 2026 earnings call updates, citing timing-related tax items and a 2025 transmission minority interest sale, while noting constructive regulatory outcomes and higher normalized sales. Management raised 2026 guidance to $6.25-$6.55 per share. It outlined a $78 billion 2026-2030 capital plan, 11% rate base CAGR, and >9% operating EPS CAGR through 2030.

American Electric Power (AEP) said it plans to buy the 710 MW Longview coal-fired power plant in Monongalia County, W.Va., for an undisclosed price, and will honor the county and schools PILT agreement, according to Monongalia County Commission President Tom Bloom. AEP also acquired permits for a proposed 1,200 MW combined-cycle natural gas plant on the site. AEP serves 5.6 million customers across 11 states.

The U.S. Department of Energy and private partners announced a $100 billion gas-powered data center campus at a former uranium enrichment site in Paducah, Kentucky. Brookfield Corp will operate; NextEra Energy will build and own the electricity component with up to 2 GW gas generation and 2.6 GW battery storage. Big Rivers Electric, Jackson Purchase Energy Cooperative and Paducah Power System will provide service. Buildout targeted for 2032.