AI’s Thirst for Power Turns Utilities Into Crowded Growth Sector

Savvy investors have been betting, correctly, for years now that electricity demand for AI applications will deliver riches to power companies. All of a sudden, that wager’s blasted past the mainstream and into the stratosphere.

The biggest exchange-traded fund tracking the utilities sector has clocked a 6.8% gain so far this year, handily outstripping the broader market. Now, a group of staid socks once coveted for the reliable payouts and slow, steady growth have become a must-have for just about every investor group.