AMERICANMADE
Forget chips… The next boom relies on "AI Fuel"
Jeff Brown picked NVIDIA before its 28,000% surge.
Now he says AI’s next trillion-dollar breakout won’t come from chips at all… but from a strange “AI Fuel” that could unlock $100 trillion in new wealth.
One government-backed company sits at the center of the story. And it could see explosive growth in the coming weeks, as an urgent executive order fast-tracks demand.
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We’ve spent five weeks covering the companies that build in America. Today I want to show you what’s driving all of them at once.
Data centers. The physical buildings where AI lives, where the cloud actually sits, and where the digital economy runs. They need transformers, generators, gas turbines, construction equipment, steel, concrete, cooling systems, and electrical infrastructure. Every theme we’ve covered this month — all of it traces back to data center demand.
The scale is staggering. McKinsey estimates $7 trillion in global data center infrastructure spending by 2030. Over 40% of that will be in the United States. Construction starts in the U.S. alone hit $103.7 billion in the trailing 12 months through January 2026 — tripling since 2023.
Here’s where the money goes. McKinsey breaks data center spending into three layers. About 60% goes to chips and servers. About 25% — roughly $1.3 trillion — goes to power and cooling. The remaining 15% goes to buildings and site construction. That second and third layer is where American manufacturers win.
Power. Every data center needs electricity — massive amounts of it. Goldman Sachs projects U.S. data center power demand will grow from 31 GW in 2025 to 66 GW by 2027. That’s why GE Vernova’s backlog hit $13 billion. It’s why Caterpillar’s power generation business grew 41%. And it’s why the White House invoked the DPA on transformers. The grid can’t keep up. Behind-the-meter gas turbines and generators — made by Caterpillar and Generac — are filling the gap.
Cooling. AI chips generate enormous heat. The industry is moving from air cooling to liquid cooling. Vertiv (NYSE: VRT) is the dominant player — Columbus, Ohio-based, Q1 revenue up 30%, Americas growth of 44%. It just completed three acquisitions in three months to expand its thermal management capabilities.
Construction. Someone has to pour the concrete, grade the site, and run the steel. Caterpillar and Deere supply the earthmoving equipment. Parker Hannifin supplies the hydraulic systems. Nucor and Steel Dynamics supply the domestic steel required under Buy America rules.
Power constraints are extending construction timelines by two to six years. The transformer shortage we covered two weeks ago is now the single biggest bottleneck in data center deployment. Occupancy rates are at 95%. The grid is full. And the U.S. would need 90% of global semiconductor output to power every data center announced through 2030.
That’s why nuclear is entering the conversation. BWXT is applying for uranium enrichment licenses. Data center operators are signing agreements for small modular reactors. The demand for carbon-free baseload power is real — and it flows directly to the companies we profiled last week.
The pure play is Vertiv. Revenue is growing 30% a year. Adjusted operating margins expanded 430 basis points to 20.8%. The stock is up 336% in the past year. It just acquired three companies in three months — all in cooling and prefabricated infrastructure. Full-year guidance calls for $13.5–$14 billion in revenue.
For broader exposure, Modine Manufacturing (NYSE: MOD) in Racine, Wisconsin makes thermal management for data centers. Eaton (NYSE: ETN) supplies electrical distribution and UPS systems. And every company we’ve covered this month — Caterpillar, GE Vernova, Parker, Generac, Nucor — feeds directly into this buildout.
The risk? Bubble talk is real. Some analysts see AI spending cooling. Project Stargate has started slower than expected. And valuations across the sector are stretched. But the physical infrastructure is already being built. You can debate whether AI lives up to the hype. You can’t debate that the buildings, the power plants, and the cooling systems are going up. That’s concrete and steel. And it’s all American-made.