Executive Summary
Morgan Stanley's energy analyst has identified a massive structural shift hiding in plain sight: AI's power hunger isn't just driving demand growth—it's breaking the renewable energy narrative. While the market obsesses over solar and wind capacity additions, the real money lies in the unglamorous infrastructure that keeps the lights on when the wind doesn't blow. The analyst's bombshell: power spreads (the difference between electricity prices and generation costs) will expand 15% by 2030, crea...
Key Investment Opportunity
Natural Gas Infrastructure: The Hidden AI Beneficiary
While the market focuses on renewable capacity additions, natural gas infrastructure emerges as the critical enabler of AI's power demands. Starting 2026, gas becomes a 'truly global source of new power generation,' meeting 20% of new global power needs outside China. The key insight: AI data center...
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