What are the top stocks in the AI Power theme?

QuantAbundancia's AI Power theme tracks 4 stocks ranked editorially: BE, NVTS, VRT, VST.

Do AI Power stocks move together?

The AI Power theme has a 252-day average correlation of 0.39 across its members - weak co-movement. Editorial themes are narrative groupings, not capital-flow validated; tradability follows correlation, not the story.

Theme

AI Power

Power generation, fuel cells, distribution for AI datacenters.

0.387avg corr (252d)

4stocks

Weak co-movement

Stocks · key Fib levels

BEBloom Energy Corporation
$289.50last
$118.00fib
+145.3%vs fib
$8B backlog1.2 GWanchored by Oracle · Equinix · AT&T · Walmart · Hyperscalers (undisclosed)
- ▸2026-04-09 - Oracle MSA signed: up to 2.8 GW SOFC capacity commitment + warrant for Oracle to purchase 3.53M BE shares
- ▸2026-04 - Initial Oracle contract: 1.2 GW capacity, deployment underway
- ▸2026-05-18 - Aschenbrenner Q1 2026 13F: BE as fund's largest long, 6.5M shares ($879M) + 409K share calls ($55M notional)
- ▸2026-05-19 to 2026-05-22 - Post-13F drawdown: BE down ~17% in 48 hours as the long-book trade unwound across AI-infra names; broader -43% from mid-May $290 peak to ~$164 by 2026-05-26
- ▸Recurring service contracts on installed base: typically 10+ year terms covering O&M, fuel stack replacements, performance guarantees
- ▸Customer base disclosed in SEC filings: Oracle (lead), Equinix, AT&T, Walmart, semiconductor fabs, multiple undisclosed hyperscalers
- ▸Setup tension: structural grid-bypass thesis (multi-year datacenter power constraint) vs near-term execution risk on SOFC manufacturing scale-up to 2.8 GW Oracle commitment; Aschenbrenner conviction signal (largest long) vs the 13F-day-2 tape unwind that took 17% off the stock
- ▸Editorial deep-dives: /articles/bloom-energy-be-explained, /articles/aschenbrenner-day-2-the-longs-broke-first, /articles/datacenter-power-bubble
NVTSNavitas Semiconductor Corporation
$16.53last
$257.00fib
−93.6%vs fib
anchored by NVIDIA · Hyperscaler PSU vendors · EV OEM Tier-1 suppliers · Mobile fast-charger OEMs
- ▸2026-05: Named $NVDA partner on 800V HVDC reference architecture for next-generation AI GPU rack power distribution; stock re-rated higher on the disclosure.
- ▸2025-08: GeneSiC acquisition closed, adding full SiC product line and combining GaN + SiC under one roof.
- ▸AI data center: 4.5kW and 8.5kW GaN/SiC PSU reference designs targeting hyperscaler PSU vendors.
- ▸EV: 6.6kW and 11kW GaN onboard charger designs with multiple OEM and Tier-1 engagements.
- ▸Mobile / consumer: GaNFast devices shipping in fast chargers across $AAPL ecosystem peers, $XIACY, Oppo, and others.
VRTVertiv Holdings Co
$311.42last
$192.00fib
+62.2%vs fib
anchored by hyperscalers (undisclosed) · Equinix · Digital Realty · colocation operators (undisclosed)
- ▸**2026 Q1**: Backlog reported ~$7.9B, +25% YoY; book-to-bill above 1.0x for 8th consecutive quarter
- ▸**2025 Q4**: Announced 360AI partnership reference architecture with $NVDA for GB200 NVL72 liquid-cooled racks
- ▸**2025**: Selected as primary thermal/power partner for multiple GW-scale hyperscaler campuses (customers undisclosed)
- ▸**2025 Q3**: CoolPhase Flex CDU released - targets 1MW+ rack densities for Blackwell/Rubin generation
- ▸**2024**: Acquired CoolTera (UK liquid-cooling IP) to deepen direct-to-chip and rear-door HX portfolio
- ▸**2024**: Multi-year framework agreements signed with top-4 US hyperscalers (names undisclosed in filings)
VSTVistra Corp.
$153.16last
$140.00fib
+9.4%vs fib
anchored by META
- ▸20-year PPA with Meta: 2.6 GW of nuclear power for an AI data center in Ohio (signed 2026)
- ▸Largest disclosed single AI-power contract of the year (size > CEG's 1.1 GW Meta deal)
- ▸Comanche Peak nuclear + Texas gas-peaker fleet positions VST as top dual-fuel AI utility
- ▸Already in the Claude-managed fund (~10% weight, migration 019)

Co-movement matrix (252d)

	BE	NVTS	VRT	VST
BE	·	0.38	0.57	0.40
NVTS	0.38	·	0.34	0.22
VRT	0.57	0.34	·	0.42
VST	0.40	0.22	0.42	·

About themes

Themes are editorial groupings - narrative buckets used for technical screens. They exist alongside bubbles, which are validated empirically by capital-flow co-movement.

When a theme's avg correlation is high, the editorial story is also tradeable as a bloc. When it's low, the narrative groups stocks that don't actually move together - useful for thinking, less useful for trading.

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Frequently asked questions

What are the top stocks in the AI Power theme?: QuantAbundancia's AI Power theme tracks 4 stocks ranked editorially: BE, NVTS, VRT, VST.
Do AI Power stocks move together?: The AI Power theme has a 252-day average correlation of 0.39 across its members - weak co-movement. Editorial themes are narrative groupings, not capital-flow validated; tradability follows correlation, not the story.