3 Brilliant Energy Stocks to Buy Now and Hold for the Long Term

The Globe and Mail reports on three energy companies—Energy Transfer, Constellation Energy, and Enbridge—that are poised to capitalize on the substantial and growing electricity demands of artificial intelligence (AI) data centers, which are significantly straining the U.S. power grid. The publication presents these companies as attractive long-term investment opportunities within the AI market. Energy Transfer, a diversified midstream energy company, is leveraging its extensive pipeline network to supply natural gas for data center electricity generation. The article notes its agreements with Oracle, CloudBurst Data Centers, and Fermi America to meet their AI-related energy needs. This aligns with a projection by Global Energy Monitor that a third of new gas-fired power capacity under development in the U.S. will serve data centers and AI. Constellation Energy, a utility giant and major provider of clean energy, is focused on its nuclear power business to offer stable, low-carbon baseload power to data centers. The company has secured significant power purchase agreements, including a 20-year deal with Meta Platforms starting in June 2025 and another 20-year agreement with Microsoft announced in September 2024. Enbridge, another diversified energy provider, primarily aims to meet AI-driven electricity demand through natural gas and its growing renewable energy segment. For instance, Meta Platforms signed a long-term contract with Enbridge in July to purchase 100% of the renewable energy from a solar project in Texas. Enbridge is also collaborating with Microsoft to enhance its operational efficiency using AI technology.