The AI investment story is increasingly shifting from who builds the technology to who supplies the enormous amounts of power needed to run it. That is the thesis behind Harbor Capital Advisors’ new fund, the Munificent Seven ETF (NYSE:BBLS), which began trading last week with a concentrated bet on global energy giants.
AI’s Power Problem Creates a New ETF Trade
The timing gives the fund a fresh angle as surging AI infrastructure investment puts electricity supply and grid capacity under increasing pressure.
The International Energy Agency expects global data-center electricity consumption to roughly double from 2025 levels to about 950 terawatt-hours by 2030, with AI-focused data centers growing even faster. In the U.S., data centers are expected to account for roughly half of electricity demand growth through 2030.
EPRI’s latest projections are even wider, estimating that U.S. data centers could consume 9% to 17% of the country’s electricity by 2030, up from about 4%- 5% today.
