In March, Microsoft, Google, Amazon, Meta, OpenAI, Oracle, and Elon Musk’s xAI joined President Trump at the White House. Together, they signed a document that will reshape how AI’s biggest companies operate for years to come.
They committed, in writing, to pay for every megawatt of new electricity their AI projects will require and to cover all of the grid infrastructure those projects depend on.
In short, the seven biggest names in tech told the President they would pay whatever it costs to keep AI running. And Bitzero (NASDAQ: AIBZ) has already secured what Big Tech needs most for today’s ongoing AI boom.
The company controls more than a gigawatt of low-cost power across Norway, Finland, and North Dakota.
All of it was secured years before the March announcement, including in countries where building anything comparable at this scale is no longer possible. And they just announced a major deal with a long-term tenant at their flagship site where, like Big Tech, the tenant has agreed to cover the electricity costs.
The spending numbers from Silicon Valley confirm that the race to secure the power for AI isn’t just talk.
The five biggest AI infrastructure providers plan to spend anywhere from $660 billion to $690 billion on capital expenditure in 2026.
That figure dwarfs the entire defense budget of nearly every country on Earth, and the vast majority of that money is going specifically toward AI infrastructure.
But even with all of that money, AI could soon hit a wall most investors haven’t even noticed yet. There simply isn’t enough power to absorb it.
The Money Is Flowing. The Power Is Years Away.
While many missed the rise of Nvidia in 2023, long before it became the $5 trillion AI darling, the AI boom has spread far beyond chip companies and Big Tech hyperscalers. The obvious AI plays are now well-known and largely priced in.
But the AI boom hasn’t slowed down. It’s just moved a layer deeper, into the inputs AI actually runs on, and the biggest input by far today is electricity.
Unfortunately, the timeline has given cause for concern to companies that are seeing AI use rising higher by the day.
A new utility-scale power plant would take five to ten years to go from approval to operation. And while nuclear is gaining attention, new nuclear capacity is even slower.
Microsoft’s deal to restart the Three Mile Island reactor won’t deliver electricity until 2027 at the earliest, and Google’s first Kairos Power reactor isn’t expected online until 2030.
Even the most ambitious project underway can’t outpace the timeline.
Stargate — the $500 billion AI infrastructure venture from OpenAI, Oracle, and SoftBank — has grown to nearly seven gigawatts of planned capacity, with sites confirmed or under development in Texas, Michigan, and Wisconsin among others.
But even Stargate’s success depends on what local power grids can actually support, and most of those gigawatts won’t be generating electricity for years.
The Pledge signed in March only committed Big Tech to pay for the new power. It didn’t shorten how long it takes to deliver it. That’s where Bitzero hopes to shorten the gap as AI demand continues to ramp up.
Securing Cheap, Abundant Power in 2026
Bitzero (NASDAQ: AIBZ) spent the last four years building exactly what Microsoft, Google, Amazon, and Meta now need to power AI.
The company’s flagship facility sits in central Norway, where it draws 100% renewable hydroelectric power at 3 to 4 cents per kilowatt-hour, roughly a third of what most U.S. data centers pay today.
Bitzero also manages its own connection to the grid directly, which means the company doesn’t rent its electricity from a utility. It controls its own power supply, which very few public companies can say in 2026.
A short time after Bitzero’s facility was approved, Norway closed the door. The country’s regulators capped any new data center project at five megawatts of power — barely enough to run a small server room, and far below the 100-plus megawatts a single AI training facility actually needs.
The company’s concessions were locked in before that cap was imposed.
What that means is there are essentially no new entrants who can build at Bitzero’s scale in Norway. The companies that finished their build-outs before the door closed are sitting on something that simply can’t be replicated today — not with capital or political connections. The concessions simply don’t exist anymore.
The Infrastructure Big Tech Can’t Build Fast Enough
The company isn’t just holding power, though. It’s already turning it into the infrastructure the AI boom needs most.
But this month, Bitzero officially made its move into the AI data center space after signing a binding letter with a long-term tenant for an AI data center.
The company just signed a binding letter for a 15-year lease with AI cloud provider OneQode for the full 110 megawatts at the Norway site, with first deployment targeted for the first half of 2027.
The deal is worth up to $2.6 billion, with 85% of that expected to be net income after OneQode covers electricity costs.
That puts the entire flagship facility under a long-term tenant with deployment expected next year, while most operators are still waiting on grid approvals.
Once the Norway facility has those 110 megawatts operational, that would equate to roughly $2-3 billion in market value in today’s AI buildout craze.
But that’s not even the company’s largest site.
Finland’s Kokemaki campus has also been planned and has undergone a full DD report by Red Engineering to support up to 520 MW of buildings, with an expansion after that up to the contemplated 1000 MW / 1gigawatt. That makes this one of the largest AI-ready infrastructure footprints anywhere in Europe.
The first 80 megawatts is on track for the first half of 2027, and the high-voltage grid connection has already been confirmed by the local utility.
With that kind of massive scale, a single hyperscaler could take hundreds of megawatts and still leave room for additional tenants. That capacity barely exists in North America right now, let alone in a facility that’s already permitted and connected to the grid.
None of this depends on landing another AI contract tomorrow, either.
Bitzero’s power assets already generate revenue in a completely different use case. The company runs a profitable Bitcoin mining operation at roughly $50,000 per coin. That’s well below the $75,000-to-$82,000 range most of the industry operates at.
That margin comes from the same 3-to-4 cent hydroelectric power that makes the AI opportunity possible.
Which means the company doesn’t need to win another hyperscaler deal this quarter — or this year — to keep operating profitably. Mining covers the cost base. Every AI contract that lands moving forward is upside on a business that’s already working.
The Shark Backing This AI Power Play
“Shark Tank” star Kevin O’Leary became a strategic investor in Bitzero before any of this — before the White House Pledge, before Stargate, and before AI infrastructure spending crossed half a trillion dollars.
“It’s really a power company,” O’Leary сказал in a recent interview. “It was able to acquire some very advantageous power contracts over long periods of time, and they can go anywhere they want with that power.”
He’s been clear about why those contracts are more important than ever now.
“There is no power on the grid anymore. You’ve got the Bitcoin miners with insatiable demand, and you’ve also got massive demand for AI data centers. These two are going to be fighting for power contracts.”
O’Leary highlighted the problem long before most of the market understood what the fight was even about, and Bitzero is positioned as a strong solution at the heart of it.
Where Will The Big Tech Money Flow?
Microsoft, Google, Meta, Amazon, OpenAI, Oracle, and xAI all committed in March to pay for the power AI requires, at any price. Their numbers announced during last month’s earnings calls confirm it too.
But the new power can’t be built fast enough to keep up. The utility stocks and reactor builders most retail investors have heard of can’t deliver electricity inside the window where Big Tech is actually spending.
The urgency is already visible in the spending plans of the hyperscalers themselves. Microsoft (NASDAQ:MSFT) is aggressively expanding its global data-center footprint to support Azure AI services and its partnership with OpenAI, while simultaneously pursuing long-term power agreements, natural gas generation, and even nuclear power to secure future electricity supplies. Google (NASDAQ:GOOG) is facing a similar challenge as demand for Gemini and AI-powered cloud services accelerates. The company has signed a series of next-generation nuclear and clean-energy agreements, but many of those projects will not deliver meaningful capacity until the end of the decade. In the meantime, Google’s growth is increasingly tied not to the availability of chips, but to the availability of power.
Amazon (NASDAQ:AMZN), meanwhile, remains one of the largest data-center operators in the world through AWS. The company has committed tens of billions of dollars toward expanding AI infrastructure and recently intensified its investments in power generation, grid interconnections, and advanced nuclear technologies. Yet even Amazon faces the same reality confronting the rest of the industry: securing capital is relatively easy, while securing gigawatts of dependable electricity has become one of the most difficult challenges in modern infrastructure development.
The result is a profound shift in how investors should think about the AI boom. For years, the market rewarded companies that designed chips, built software, or trained models. Increasingly, however, the biggest winners may be those that control the physical infrastructure underneath the AI economy—power generation, grid access, transmission capacity, and energized data-center campuses. In many cases, electricity is becoming the new scarce resource, and companies with existing access to large-scale power are finding themselves in a stronger competitive position than those still waiting years for grid approvals.
With the AI boom going stronger than ever, we need gigawatt-scale power, plugged into the grid right now, with AI hardware already in production.
While very few public companies can credibly claim they have it, Bitzero is one of them. Competitors with similar long-term AI deals are now worth $2-3 billion in market value for every 100 megawatts under contract.
With 1 gigawatt of potential capacity across Europe and North America, that creates a sizeable opportunity for the company in today’s AI buildout. And with Big Tech set to spend upwards of $600 billion on AI infrastructure, the companies securing the power could be the biggest winners to watch.
By. Charles Kennedy
The AI boom is triggering an unexpected and unprecedented bull run in natural gas and power stocks. If you aren’t paying attention to the energy demands of data centers, you will miss the biggest energy story of the decade. The smart money is already quietly moving into the few companies prepared to power the trillion-dollar AI machine.
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