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The Real AI Bottleneck Isn't Chips. It's Gas Turbines.

Sep 4, 2026

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4 min read

The Real AI Bottleneck Isn't Chips. It's Gas Turbines.

A data center shell goes up in 18 months. The gas plant to power it takes five years.

The Capital Current

You Can Write a Check for a Data Center. You Can't Buy a Transformer That's 4 Years Out.

Sep 3, 2026

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4 min read

You Can Write a Check for a Data Center. You Can't Buy a Transformer That's 4 Years Out.

Transformer lead times just hit 4 years. Demand for generator step-up transformers is up 274% since 2019.

The Capital Current

Energy Is Up 44%. Traders Only See One Reason.

Sep 2, 2026

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4 min read

Energy Is Up 44%. Traders Only See One Reason.

Goldman says U.S. data center demand jumps from 41 GW to 66 GW. The grid can't build that fast.

The Capital Current

U.S. Businesses Will Soon Use More Power Than Homes.

Sep 1, 2026

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4 min read

U.S. Businesses Will Soon Use More Power Than Homes.

Data centers now drive 55% of all U.S. demand growth. After two flat decades, the line snapped.

The Capital Current

The U.S. Has 378 GW of Gas Power in the Pipeline.

Aug 31, 2026

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4 min read

The U.S. Has 378 GW of Gas Power in the Pipeline.

Half of it — 189 GW — exists only because data centers can't wait for the grid.

The Capital Current

Aug 28, 2026

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4 min read

26 Broken Records. Prices Barely Moved.

ERCOT added 60 gigawatts since 2022. PJM added 22 — and saw prices spike 90%.

The Capital Current

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Flex Just Paid $4.4 Billion for a Power Converter.

Sep 9, 2026

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4 min read

Flex Just Paid $4.4 Billion for a Power Converter.

It makes the gear between your meter and the GPU. Each unit is custom. Each one is on backorder.

The Capital Current

Amazon's Carbon Hit 81 Million Tons. That's 19 Million Cars.

Sep 8, 2026

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4 min read

Amazon's Carbon Hit 81 Million Tons. That's 19 Million Cars.

Google is up 18%. Microsoft up 25%. Not one of the three is on track for its climate target.

The Capital Current

Fervo Hit an All-Time Low. Then Google Called.

Sep 7, 2026

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4 min read

Fervo Hit an All-Time Low. Then Google Called.

The market had written geothermal off. The world's biggest corporate buyer of clean power had not.

The Capital Current

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