The biggest utility merger in US history?

First, it was a power bottleneck. Then a compute bottleneck. Now, as AI agents burn through tokens faster than anyone predicted, we’re back in a compute shortage. Meanwhile, it’s getting harder than ever to site and build the data centers to alleviate it.

This is shaking up who builds the energy infrastructure to serve it, and how it gets built.

This week, we’re diving into the biggest utility deal in American history: NextEra’s attempt to buy Dominion. If it happens, it would combine the biggest renewable energy developer in the US with the utility serving the world’s largest concentration of data centers.

What does it mean for their power development strategy? We debate the regulatory path, the power mix question, and who actually benefits.

Then we turn to an infrastructure debate. Are we entering a new era of distributed, grid-connected data centers that will overshadow the gigawatt-scale campus model?