BlackRock Says Buy AI Energy Stocks Over Big Tech in 2026. Here Are 3 Top Picks.

Why It Matters

Powering AI workloads will become a multi‑billion‑dollar growth engine, reshaping utility and clean‑energy investment strategies. Early exposure to these energy providers offers investors upside as data‑center electricity needs outpace traditional supply.

Key Takeaways

• AI data centers will boost U.S. power demand dramatically
• Bloom Energy's fuel‑cell sales rose 36% YoY
• Constellation leads U.S. nuclear generation, restarting Three Mile Island
• GE Vernova backlog hit $150 billion, driven by AI‑grid strain

Pulse Analysis

The rapid expansion of artificial‑intelligence workloads is reshaping the electricity landscape. Deloitte projects a thirty‑fold increase in power use by U.S. AI data centers between 2024 and 2035, creating a massive supply gap that traditional utilities struggle to fill. Recognizing this trend, BlackRock’s analysts have moved the spotlight from high‑flying chip makers to the firms that generate and deliver the needed energy. Their 2026 outlook recommends a trio of “AI‑energy” stocks that stand to capture the next wave of infrastructure spending.

Bloom Energy leads the on‑site hydrogen fuel‑cell market, reporting $778 million in revenue and a 36 % year‑over‑year jump as data centers chase cost‑effective power. Constellation Energy, the nation’s largest nuclear producer, is reviving a Three Mile Island reactor specifically for a Microsoft AI hub, underscoring nuclear’s resurgence and supporting a price target 25 % above current levels. GE Vernova, the power‑equipment spin‑off of General Electric, posted a 34 % surge in new orders, expanding its backlog to $150 billion and justifying a $600 million capex program to accelerate turbine and grid‑storage output.

Investors are now weighing energy infrastructure alongside traditional AI hardware, a shift that aligns with U.S. policy encouraging nuclear expansion and clean‑fuel adoption. While Bloom’s valuation remains lofty, any pullback could present a buying chance given its profitability and growth trajectory. Constellation’s nuclear assets offer defensive exposure to a sector poised for a four‑fold output increase by 2050, yet regulatory risk remains. GE Vernova’s massive order backlog provides visibility, but execution risk tied to manufacturing capacity could temper short‑term returns. Collectively, these stocks illustrate how the AI boom is spawning a new frontier of utility‑scale investment opportunities.