Who Pulled The Plug On "Power Up America"?
Unplugged
The AI boom is supposed to be driving an unprecedented surge in electricity demand. Yet one of its most obvious beneficiaries, the companies supplying the power, has been absolutely crushed. Hedge funds have spent months dumping the trade, positioning has collapsed to multi-year lows, and valuations have followed. The irony? The fundamental story has barely changed. And now Goldman is gathering hundreds of clients to explain why it may be time to plug back in.