⚡ The AI trade is becoming a power rights trade.
Oil backed off Tuesday. Treasury yields eased. Tech rallied. Nvidia reports tonight.
But the most interesting capital allocation story has almost nothing to do with Nvidia’s stock price.
🏗️ nVent is buying data center power infrastructure company Maverick Power for $1.75 billion, with another potential $550 million tied to performance.
⚡ Texas has nearly 2,000 requests waiting for energization in the ERCOT queue, approximately 90 percent tied to data centers, representing more than 466,000 MW of requested demand. The state has paused approvals for data center grid connections while it audits…
The skinny
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