Archive | The Capital Current

The Senate Missed by 3 Votes. Your Power Bill Stays Unsettled.

Oct 2, 2026

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4 min read

The Senate Missed by 3 Votes. Your Power Bill Stays Unsettled.

417 House members agreed. One word killed it in the upper chamber: "consider."

The Capital Current

A $20 Billion Data Center. Backed by a $1 Promise.

Oct 1, 2026

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4 min read

A $20 Billion Data Center. Backed by a $1 Promise.

A regulator called it an embarrassing legal fiction. The contract stands anyway.

The Capital Current

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

$89 Billion. In One Quarter. From Data Centers.

Aug 27, 2026

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3 min read

$89 Billion. In One Quarter. From Data Centers.

Data centers are now 93 cents of every dollar NVIDIA earns — and next quarter's guide assumes zero China.

The Capital Current

The AWS Chief Now Sells Power. $10 Billion.

Aug 26, 2026

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3 min read

The AWS Chief Now Sells Power. $10 Billion.

KKR, NVIDIA, and a 50-gigawatt utility are behind it — power baked into the site, not bolted on.

The Capital Current

Aug 25, 2026

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4 min read

AI Capex Just Hit 93% of Cash Flow.

$697 billion spent this year against just $200 billion earned — and the cushion is gone.

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