The Capital Current

74 Gas Plants Are Planned Just for Data Centers.

Sep 14, 2026

•

3 min read

74 Gas Plants Are Planned Just for Data Centers.

Nearly half of them sit in Texas. Most would run behind the meter, off the grid entirely.

The Capital Current

Trump Just Banned $22 Billion in Chinese Grid Gear.

Sep 11, 2026

•

3 min read

Trump Just Banned $22 Billion in Chinese Grid Gear.

Data centers bought those units to cut transformer lead times. Order 14420 closed that on August 26.

The Capital Current

One Resident Filed a Petition. Amazon Withdrew Its Application.

Sep 10, 2026

•

4 min read

One Resident Filed a Petition. Amazon Withdrew Its Application.

Three sitting commissioners lost their seats. Seventeen localities have now paused projects.

The Capital Current

Flex Just Paid $4.4 Billion for a Power Converter.

Sep 9, 2026

•

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

•

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

•

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

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

Sep 4, 2026

•

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

•

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

•

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

•

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

•

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

•

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

•

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

•

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

•

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.

The Capital Current

The Data Center Spending Forecast Nearly Doubled in Seven Months

Aug 24, 2026

•

4 min read

The Data Center Spending Forecast Nearly Doubled in Seven Months

Dell'Oro moved from $1.7 trillion to $3 trillion. Every revision this year has gone the same direction.

The Capital Current

$6.77 a Pound: Copper Just Hit an All-Time High.

Aug 21, 2026

•

4 min read

$6.77 a Pound: Copper Just Hit an All-Time High.

A 304,000-ton global shortage sent it to a record — and AI data centers need 47 tonnes per megawatt.

The Capital Current

Aug 20, 2026

•

3 min read

99 Gas Plants. Nobody Voted.

126 gigawatts across 22 states — enough to raise U.S. power emissions by 20%, with no hearings.

The Capital Current

The U.S. Grid Will Be 49 Gigawatts Short by 2028.

Aug 19, 2026

•

4 min read

The U.S. Grid Will Be 49 Gigawatts Short by 2028.

Need hits 74 GW against just 25 available — a hole bigger than all of New York State, and no relief in sight.

The Capital Current

56 Million Customers Could Pay for Data Center Hookups.

Aug 18, 2026

•

4 min read

56 Million Customers Could Pay for Data Center Hookups.

FERC's deadline hit yesterday — six grid operators filed, and $18.6 billion in rate hikes are already on the table.

The Capital Current

Washington Just Cancelled 3 Power Corridors for Data Centers.

Aug 17, 2026

•

3 min read

Washington Just Cancelled 3 Power Corridors for Data Centers.

$81.5 billion of them are already under construction — and every new line now faces a state-by-state fight.

The Capital Current

13 Normal Habits That Flag You at Airport Security.

Aug 14, 2026

•

3 min read

13 Normal Habits That Flag You at Airport Security.

Too much cologne. The wrong jacket. One too many jokes with the agent. It all adds up.

The Capital Current

Your Electricity Bill Is Up 22.6% in Four Years.

Aug 13, 2026

•

4 min read

Your Electricity Bill Is Up 22.6% in Four Years.

57 utilities want another 13.2% — and FERC decides Monday who pays for data centers.

The Capital Current

Texas Cut Its Power Forecast in Half. One Order. One Day.

Aug 12, 2026

•

4 min read

Texas Cut Its Power Forecast in Half. One Order. One Day.

BloombergNEF pegs the delay at 49.8 gigawatts — and up to $15 billion in lost leasing revenue.

The Capital Current

Meta Built Its Own Power Plant. One Customer. 932 Megawatts.

Aug 11, 2026

•

4 min read

Meta Built Its Own Power Plant. One Customer. 932 Megawatts.

Morgan Stanley and Pembina split the $3.24 billion tab — not a chip in sight.

The Capital Current

...

Sep 14, 2026

•

3 min read

74 Gas Plants Are Planned Just for Data Centers.

Nearly half of them sit in Texas. Most would run behind the meter, off the grid entirely.

The Capital Current

Sep 11, 2026

•

3 min read

Trump Just Banned $22 Billion in Chinese Grid Gear.

Data centers bought those units to cut transformer lead times. Order 14420 closed that on August 26.

The Capital Current

Sep 10, 2026

•

4 min read

One Resident Filed a Petition. Amazon Withdrew Its Application.

Three sitting commissioners lost their seats. Seventeen localities have now paused projects.

The Capital Current

Sep 9, 2026

•

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

Sep 8, 2026

•

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

Sep 7, 2026

•

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

Sep 4, 2026

•

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

Sep 3, 2026

•

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

Sep 2, 2026

•

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

Sep 1, 2026

•

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

Aug 31, 2026

•

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

•

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

Aug 27, 2026

•

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

Aug 26, 2026

•

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

•

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.

The Capital Current

Aug 24, 2026

•

4 min read

The Data Center Spending Forecast Nearly Doubled in Seven Months

Dell'Oro moved from $1.7 trillion to $3 trillion. Every revision this year has gone the same direction.

The Capital Current

Aug 21, 2026

•

4 min read

$6.77 a Pound: Copper Just Hit an All-Time High.

A 304,000-ton global shortage sent it to a record — and AI data centers need 47 tonnes per megawatt.

The Capital Current

Aug 20, 2026

•

3 min read

99 Gas Plants. Nobody Voted.

126 gigawatts across 22 states — enough to raise U.S. power emissions by 20%, with no hearings.

The Capital Current

Aug 19, 2026

•

4 min read

The U.S. Grid Will Be 49 Gigawatts Short by 2028.

Need hits 74 GW against just 25 available — a hole bigger than all of New York State, and no relief in sight.

The Capital Current

Aug 18, 2026

•

4 min read

56 Million Customers Could Pay for Data Center Hookups.

FERC's deadline hit yesterday — six grid operators filed, and $18.6 billion in rate hikes are already on the table.

The Capital Current

Aug 17, 2026

•

3 min read

Washington Just Cancelled 3 Power Corridors for Data Centers.

$81.5 billion of them are already under construction — and every new line now faces a state-by-state fight.

The Capital Current

Aug 14, 2026

•

3 min read

13 Normal Habits That Flag You at Airport Security.

Too much cologne. The wrong jacket. One too many jokes with the agent. It all adds up.

The Capital Current

Aug 13, 2026

•

4 min read

Your Electricity Bill Is Up 22.6% in Four Years.

57 utilities want another 13.2% — and FERC decides Monday who pays for data centers.

The Capital Current

Aug 12, 2026

•

4 min read

Texas Cut Its Power Forecast in Half. One Order. One Day.

BloombergNEF pegs the delay at 49.8 gigawatts — and up to $15 billion in lost leasing revenue.

The Capital Current

Aug 11, 2026

•

4 min read

Meta Built Its Own Power Plant. One Customer. 932 Megawatts.

Morgan Stanley and Pembina split the $3.24 billion tab — not a chip in sight.

The Capital Current