imaginima/iStock via Getty Images US electric and gas utilities are preparing for a sharp acceleration in capital spending in 2026, as surging electricity demand, led by data centers and steady growth across residential, commercial and industrial users, forces a rethink of grid capacity and resilience. Visible Alpha consensus estimates point to aggregate capital expenditure rising about 30% year-o...
imaginima/iStock via Getty Images US electric and gas utilities are preparing for a sharp acceleration in capital spending in 2026, as surging electricity demand, led by data centers and steady growth across residential, commercial and industrial users, forces a rethink of grid capacity and resilience. Visible Alpha consensus estimates point to aggregate capital expenditure rising about 30% year-on-year in 2026 across a cohort of 15 listed US utilities. The spending is focused not only on modernizing ageing infrastructure to improve reliability, but also on expanding generation and transmission networks to accommodate new, power-hungry loads, particularly from AI-driven data centers. The investment surge spans some of the largest US operators, including Constellation Energy Corp. ( CEG ), Duke Energy Corp. ( DUK ), Southern Co. ( SO ), NextEra Energy Inc. ( NEE ) and American Electric Power Co. Inc. ( AEP ), alongside peers such as Edison International ( EIX ) and Xcel Energy Inc ( XEL ). Among them, Constellation Energy (CEG) is expected to post the most dramatic increase, with capital expenditure forecast to jump 128% year-on-year to $6.7 billion in 2026. Elsewhere, analysts expect broad-based double-digit growth. Entergy Corp. ( ETR ) is seen lifting spending by 49% to $11.5 billion, while American Electric Power (AEP) is projected to increase capex by 48% to $12.5 billion. Larger-scale programs remain concentrated among the sector’s biggest players. NextEra Energy (NEE), already the largest renewable energy developer in the US, is expected to spend $29.9 billion, up 24%, reflecting continued investment in clean energy and transmission. Southern Company (SO) and Duke Energy (DUK) are forecast to raise spending by 20% and 22% to $15.3 billion and $17.2 billion, respectively. Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
With stock buybacks of $51.76 billion in the 12 months through September 2025, NVIDIA Corporation (NASDAQ:NVDA) is among the 20 Stocks with the Biggest Share Buybacks. NVIDIA Corporation (NASDAQ:NVDA) benefited from ecosystem expansion on April 27 when LiveRamp Holdings, Inc. announced native support for NVIDIA AI infrastructure. The upgrade enables brands and partners to train and deploy […]
With stock buybacks of $51.76 billion in the 12 months through September 2025, NVIDIA Corporation (NASDAQ:NVDA) is among the 20 Stocks with the Biggest Share Buybacks. NVIDIA Corporation (NASDAQ:NVDA) benefited from ecosystem expansion on April 27 when LiveRamp Holdings, Inc. announced native support for NVIDIA AI infrastructure. The upgrade enables brands and partners to train and deploy […]
Getty Images I upgraded my rating on Oracle Corporation ( ORCL ) stock to a Strong Buy from a Buy. The rating is based on the structural, financial, geopolitical, and technical factors that are building an important inflection point for the ORCL stock. Oracle is becoming the base data and power utility for the Artificial Superintelligence [ASI] period. At the current stock price of $165.96 (at the...
Getty Images I upgraded my rating on Oracle Corporation ( ORCL ) stock to a Strong Buy from a Buy. The rating is based on the structural, financial, geopolitical, and technical factors that are building an important inflection point for the ORCL stock. Oracle is becoming the base data and power utility for the Artificial Superintelligence [ASI] period. At the current stock price of $165.96 (at the time of writing), Wall Street is having a temporary duration mismatch, in my opinion. As the market is pricing Oracle for its immediate CapEx burn and does not consider the possibility of its high contracted forward business performance. In my last coverage , I was pointing out that Oracle’s big drawdown (triggered by a $12 billion CapEx shock) builds a hard valuation dislocation (masking a possible 140% upside by 2030). As per that thesis, Wall Street was mispricing this intense CapEx as a long-term weakness instead of the necessary bridge to monetize a huge $523B AI-led backlog [RPO]. The thesis considered Oracle’s multicloud integration as a Trojan Horse that is accelerating RPO-to-revenue conversion. In that article, the main risk marked was the liquidity, as CapEx consumed 75% of revenue, and with net debt at $112 billion, credit downgrade risks loomed. Seeking Alpha Now the current article is evolving beyond that as the current thesis is upgraded with new developments (like Q3-FY2026 earnings and product advancements), valuation, technicals, and monitorables for the Q4 call. What Can Take Oracle Stock Higher? Oracle has now built a multi-layered architectural and financial moat that bypasses current hyperscaler bottlenecks. This moat is formed with the CapEx illusion and Bring-Your-Own-Hardware [BYOH] advantage. To clarify more on this, in my opinion, Wall Street considers Oracle’s -34.8% Levered FCF margin [TTM] and $50 billion FY26 CapEx guide as a long-term impairment. But I observe that Oracle is working out a BYOH model. With >90% of capacity fully funded by par...
Getty Images I upgraded my rating on Oracle Corporation ( ORCL ) stock to a Strong Buy from a Buy. The rating is based on the structural, financial, geopolitical, and technical factors that are building an important inflection point for the ORCL stock. Oracle is becoming the base data and power utility for the Artificial Superintelligence [ASI] period. At the current stock price of $165.96 (at the...
Getty Images I upgraded my rating on Oracle Corporation ( ORCL ) stock to a Strong Buy from a Buy. The rating is based on the structural, financial, geopolitical, and technical factors that are building an important inflection point for the ORCL stock. Oracle is becoming the base data and power utility for the Artificial Superintelligence [ASI] period. At the current stock price of $165.96 (at the time of writing), Wall Street is having a temporary duration mismatch, in my opinion. As the market is pricing Oracle for its immediate CapEx burn and does not consider the possibility of its high contracted forward business performance. In my last coverage , I was pointing out that Oracle’s big drawdown (triggered by a $12 billion CapEx shock) builds a hard valuation dislocation (masking a possible 140% upside by 2030). As per that thesis, Wall Street was mispricing this intense CapEx as a long-term weakness instead of the necessary bridge to monetize a huge $523B AI-led backlog [RPO]. The thesis considered Oracle’s multicloud integration as a Trojan Horse that is accelerating RPO-to-revenue conversion. In that article, the main risk marked was the liquidity, as CapEx consumed 75% of revenue, and with net debt at $112 billion, credit downgrade risks loomed. Seeking Alpha Now the current article is evolving beyond that as the current thesis is upgraded with new developments (like Q3-FY2026 earnings and product advancements), valuation, technicals, and monitorables for the Q4 call. What Can Take Oracle Stock Higher? Oracle has now built a multi-layered architectural and financial moat that bypasses current hyperscaler bottlenecks. This moat is formed with the CapEx illusion and Bring-Your-Own-Hardware [BYOH] advantage. To clarify more on this, in my opinion, Wall Street considers Oracle’s -34.8% Levered FCF margin [TTM] and $50 billion FY26 CapEx guide as a long-term impairment. But I observe that Oracle is working out a BYOH model. With >90% of capacity fully funded by par...