As investors await Nvidia’s (NVDA) highly anticipated earnings report, Raymond James Managing Director Pavel Molchanov joins Market Domination Overtime to discuss how the utilities sector is benefiting from the artificial intelligence race.
“If data centers, for the first time in 20 years, create overall growth in US power demand, that is a very good thing for utility companies across the board,” Molchanov explains. He anticipates growth between 2 and 3% per year as the AI race heats up. The strategist also points to specific areas of data center growth, like Virginia and Ohio, where electricity prices are more affordable.
He…
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