Surging AI power demand boosts utility stocks

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Financial Times 16h ago

Surging AI power demand boosts utility stocks - Financial Times

Quick Summary:

Utilities often serve as a countercyclical safe-haven investment in turbulent times, so the capital inflows to utility shares during a strong bull market are drawing attention.

AI’s impact on the US energy demand forecast motivated $9.5bn Churchill Management to bulk up its utilities exposure over the past couple of months.

The increase in appeal also comes amid a more favourable interest rate environment, as federal rate cuts later this year could help debt-dependent utilities burdened with high financing costs.