With Microsoft, Meta and Alphabet all planning to spend more than expected on capital expenditures for the foreseeable future, an Evercore analyst sees upbeat signs for power companies.
“Just in case the bevy of utility and power-related earnings wasn’t enough over the past few days,” Evercore ISI analyst Nicholas Amicucci said the commentary out of Wednesday’s Big Tech reports add to his belief “that we are still in the very early innings of the AI/data center infrastructure buildout.”
That’s “a meaningful positive” for power companies like Bloom Energy, Vistra, and Talen Energy, which are all part of his coverage.