The first wave of the AI boom was chips. Nvidia. Everyone knows that story.
The second wave was data centers and the infrastructure around them. Power names went parabolic.
But that second wave has ended.
Because now a third wave is quietly starting.
The third wave is about something even more fundamental than chips or servers.
It's about the power itself.
You see, AI doesn't care which chip manufacturer wins...
It doesn't care which data center company builds the biggest campus...
AI runs on electricity.
Enormous, staggering, never-ending amounts of electricity.
Goldman Sachs is forecasting a 165% increase in data center electricity demand by 2030.
Nvidia just committed $500 billion to U.S. AI infrastructure.
Apple committed another $500 billion.
IBM committed $150 billion.
That's over a trillion dollars flooding into one market.
And every single dollar of it needs power to function.
Which brings us back to "Dark Energy."