PG&E Corp Witnesses Increased Demand from Data Center Growth

PG&E Corporation (NYSE:PCG) is counted among the Best Nuclear Energy Stocks to Buy Right Now. The company has emerged as a top player in the current AI boom, witnessing a jump of more than 40% this year in requests for power supplies from data center developers across northern California.

Brightly-lit nighttime view of an electricity power grid with distribution lines and transmission substations.

In April, PG&E Corporation (NYSE:PCG) launched a process for data center developers interested in connecting to its system, and the ‘cluster study’ yielded 4.1 GW of interest, on top of the 8.7 GW announced during the company’s Q1 earnings call.

Moreover, the size of the projects has also grown since last year’s cluster study, with the current proposed projects ranging from 500 MW to 1 GW, up from 50-100 MW last year. This increased AI power demand is expected to help the overall community, as PG&E estimates that for every gigawatt of new electric demand from data centers, customers may save between 1% to 2% on their electricity bill.

PG&E Corporation (NYSE:PCG) provides natural gas and electric service to customers in northern and central California. The company also owns the Diablo Canyon Power Plant, the only operational nuclear power plant in the Golden State.

While we acknowledge the potential of PCG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.