Not long ago the line to plug into the Texas grid held 63 gigawatts.
Within a year it hit 226.
By April it reached 410.
Texas has never used more than 85 gigawatts on the hottest day in its history.
The queue is nearly five times the record. About 87% of it is data centers.
The four largest technology companies came into this year planning to spend $650 billion on AI infrastructure. Three months later they raised it to $725 billion.
The money is real. The concrete is not.
Of the 12 to 16 gigawatts of new capacity planned in America this year, roughly 5 are actually under construction.
Every stock you own in this boom sits on one side of a single question.
Does it pay the toll, or own the toll booth?
Dylan Jovine found the company holding the gate. He is giving away the name, free.
See which side of the tollgate you're on >> "The Buck Stops Here,"
Kelly Maguire
Behind the Markets