🌟 NextEra Energy — a GenAI Stock❓ 🔋

Is my local Florida utility a hidden AI stock? I recently attended the nearby annual meeting of their key subsidiary, NEP, and listened to an earnings call to find out.

NextEra Energy, Inc. is poised to become a key beneficiary of the rising power needs of generative AI (GenAI) due to its extensive renewable energy capabilities, making it well-positioned to meet the growing demands of data centers crucial for AI operations.

Besides being a regulated utility in Florida through Florida Power and Light, NextEra is the US’s leading large-scale renewable energy developer. This extensive capacity makes it ideal for supplying renewable power to new data centers, whose operators increasingly insist on using renewable energy to power their operations.

John Ketchum, Chairman, President, and CEO of NextEra Energy, emphasized, “Data center developers are really focused on three things: low-cost energy, additionally from a decarbonization standpoint, and the right location with speed to market.” He added, “We do business with all the top five hyperscalers in this country, and increasingly with some of the developers of data centers as well. We understand how they work, how they operate, and how energy and power drive their capex and opex.”