SpaceX Needs Huge Amounts of Power. Here's the Energy Stock to Buy to Play It.

SpaceX, the aerospace company, disclosed a staggering $16.4 billion expenditure on artificial intelligence (AI) in its most recent financial report. This figure, roughly 10 times the amount spent on its space endeavors, underscores the burgeoning need for electricity to fuel AI infrastructure. As the International Energy Agency projects, global electricity demand from AI is poised to approximately double between 2024 and 2030, marking a 15% annual growth rate that is significantly faster than the overall electricity consumption growth.

With this explosive demand in sight, Brookfield Renewable (BEP) emerges as a compelling investment, boasting a robust 5.4% yield and an expanding dividend. The company's clean energy portfolio, spanning hydroelectric, solar, wind, and battery sources, coupled with its substantial stake in Westinghouse, a leading nuclear power service provider, positions it to exploit the AI electricity boom while remaining resilient to market downturns.