The AI Infrastructure Play Hiding in Plain Sight That Could Be 2026's Biggest Surprise

The AI infrastructure play hiding in plain sight centers on NextEra Energy, the largest utility by market value in the United States. The company operates a regulated electric utility in Florida and a substantial contract power business, while also being a leading solar and wind power producer. Analysts point to two growth avenues: solid regulated earnings and rapid expansion to meet rising AI and data-center energy demand nationwide. NextEra has increased its dividend for over 25 years, with growth near 10% annually in the past decade, though it is trimming that target to about 6% and offering a 2.8% yield. A proposed Dominion Energy merger would extend NextEra’s regulated footprint to four states and broaden its ability to service AI customers, with Virginia highlighted as a key data-center hub. The merger is expected to face lengthy regulatory approvals, potentially taking a year or more to complete, but would strengthen earnings growth and diversify regulated operations tied to AI demand.