3 AI Power Stocks to Hold for the Next 10 Years
For artificial intelligence (AI) to continue advancing, it will need a massive increase in available electricity. The International Energy Agency (IEA) expects electricity consumption by data centers to roughly double from 2025 through 2030. Consumption from AI-focused data centers is expected to triple over this period, and the IEA sees even greater growth potential beyond 2030.
That's why investing in top power suppliers is a smart way to profit from AI. No need to pick winners and losers in chips, software, or frontier AI models. GE Vernova(NYSE: GEV), Vertiv(NYSE: VRT), and Vistra(NYSE: VST) are three of the best power stocks to hold for the next 10 years. Each is solving a different problem in bringing power to AI data centers.
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Here's why they are worth buying now for the long term.
GE Vernova
GE Vernova has the largest installed base of gas turbines in the world and also makes wind turbines and other grid equipment, such as transformers. The stock is up 36% this year as of the Oct. 29 close -- almost triple the S&P 500's roughly 13% gain.
Upgrading the grid for an AI-driven economy is a big opportunity. CEO Scott Strazik expects more than 55,000 U.S. transmission substations, the hubs that raise or lower voltage, will be "completely rebuilt or upgraded to higher voltages in the next decade." Management sees its electrification market reaching $300 billion by 2030.
Demand is showing up in results. Third-quarter organic revenue, which excludes acquisitions and foreign currency fluctuations, grew 18% year over year. Orders nearly doubled, and management raised its full-year outlook. Strazik said the company is "still in the early stages of this electricity investment super cycle."
The stock trades at a forward price-to-earnings multiple of 36 based on 2027 earnings, but analysts expect earnings to grow about 38% a year over the next several years. This projection is consistent with management's 2026-2028 target of mid-teens annualized revenue growth and strong profit margins, and sets the stage for market-beating gains.
Vertiv
Vertiv sells power systems, switchgear, and cooling equipment that keep AI servers running at optimal temperatures and speed. Shares are up 52% this year, and recently bounced higher in October after another strong earnings report.
A key advantage for Vertiv is its pre-built power systems, which management says deliver "up to 30% more cumulative AI token output in the first 12 months." It helps customers get their servers running on a shorter timeline and start profiting from AI sooner.
Growing demand is driving robust revenue growth. Third-quarter sales, excluding the impact of acquisitions, jumped 55% year over year, and management raised its full-year guidance to about $14 billion, representing approximately 38% year-over-year adjusted sales growth.
The stock trades at about 27 times forward earnings, which looks reasonable given analysts' estimates calling for roughly 39% annual earnings growth. Management targets 20% to 22% annual organic growth from 2025 to 2030 and expects higher margins, which support substantial earnings growth.
Vistra
Vistra operates as a large retail electricity business and a power producer. The Texas-based company has nuclear, natural gas, coal, and solar plants and sells power to homes and businesses. The stock is down about 13% this year, underperforming the S&P 500 gain. But that dip might be setting up the next leg higher.
One factor that may be weighing on the stock is lower electricity prices in Texas, but demand is still pushing profits higher. Second-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose more than 30% year over year. This strong growth reflects the value of its integrated business strategy across consumer and enterprise.
Vistra also rewards shareholders by using excess cash to buy back shares, thereby reducing the share count and boosting earnings per share. Since late 2021, it has retired roughly 30% of its shares outstanding. With more than $10 billion of available cash expected in 2026 and 2027, it can keep buying back stock as it grows.
Data center development remains strong, and Vistra is in active discussions with large-load customers to supply additional power to meet their needs. The stock trades at about 14 times next year's earnings estimate, and analysts expect earnings to grow about 32% a year in the coming years.
What could slow AI's power build-out?
The risk for these stocks is a slowdown in AI spending. If regulations slowed data center development, that could stall orders for these companies and cause their stocks to fall. Still, over the long term, the power infrastructure in the U.S. will need to be upgraded and maintained for a modern economy. These three stocks could be smart investments for the next 10 years and beyond.
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John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends GE Vernova, Vertiv, and Vistra. The Motley Fool has a disclosure policy .
3 AI Power Stocks to Hold for the Next 10 Years was originally published by The Motley Fool
