PG&E Unveils $73B Plan to Power AI Data Centers and Upgrade Grid by 2030

PG&E Corporation (NYSE:PCG) is one of the best stocks to buy under $20. On September 29, PG&E Corporation announced a plan to spend $73 billion by 2030 on transmission upgrades. This major investment is intended to address the surge in electricity demand, primarily driven by data centers and the increased adoption of artificial intelligence.

The California-based company is working to serve 10GW of new electricity demand from data center projects over the next ten years. The surge in power consumption is expected to contribute to record high power consumption in 2025 and 2026, according to the US Energy Information Administration/EIA.

PG&E Unveils $73B Plan to Power AI Data Centers and Upgrade Grid by 2030

In addition to serving the new data center load, PG&E is making investments to improve the reliability of its power grid, having previously been criticized for sparking numerous wildfires. A plan filed in March for the 2026-2028 period outlines the company’s goals to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026.

PG&E Corporation (NYSE:PCG), through its subsidiary, Pacific Gas and Electric Company, engages in the sale & delivery of electricity & natural gas to customers in northern and central California in the US.

While we acknowledge the potential of PCG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PCG and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.