AI Boom Fuels Energy Sector Growth
Update: 2025-12-17
Description
Bank of America analysts forecast robust growth in the energy and utilities sector, driven by the escalating demands of artificial intelligence. The AI boom is anticipated to significantly increase the need for power to run data centers and critical infrastructure, thereby fueling long-term growth in these industries. The bank identifies Public Service Enterprise Group, Alliant Energy Corporation, Sempra, Southwest Gas, and Xcel Energy as top stock picks, as these companies operate in strategic locations with a high concentration of data centers or areas poised for significant growth.
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