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New York, NY – July 2, 2026 – For most of modern history, oil was the world’s most valuable resource. It powered industrial growth, decided wars, reshaped geopolitics, and created the largest corporations in history.  Then oil lost its crown. Data replaced it as the world’s dominant asset.  Companies mentioned in today’s commentary includes:  Bitzero Holdings Inc.  (AIBZ), SpaceX (Nasdaq: SPCX), Oracle Corporation (NYSE: ORCL), Advanced Micro Devices, Inc. (NASDAQ: AMD), Palo Alto Networks, Inc. (NASDAQ: PANW), Arm Holdings plc (NASDAQ: ARM).

The companies that learned to collect, process, and monetize information – Apple, Google, Amazon, Microsoft – became the most valuable enterprises the world had ever seen.  But that era is now over.

Data has become abundant, and the world’s most powerful companies are now racing to secure one thing, and one thing only: electricity.In the AI age, the true bottleneck is no longer information or algorithms; it is access to reliable, scalable power. And that’s great news for companies like Bitzero (AIBZ), that are sitting on cost effective, abundant, sustainable electricity that’s available right now.

Securing the World’s Most Critical Resource

So just how scarce is this power? Well, utilities are currently quoting two- to four-year wait times just to complete feasibility studies.  And that is before even considering the permissions required.

Google was so desperate to secure its own power source that it set aside $1 billion to build a data center in Indiana. But then the company had to reverse course for fear the local planning commission would veto the project.

Meanwhile, according to Goldman Sachs research, global data center power demand could rise by 165% by the end of the decade compared to 2023 levels. That means the only place to find the power critical to the AI boom is data centers that have already secured long-term power projects, or better yet, have their own infrastructure.

This is where Bitzero comes in, having already established itself in regions where power is abundant, underutilized, and structurally advantaged.  It has power in hydro-rich Norway, nuclear-backed Finland, and grid-secured rural North Dakota. Combined, that is more than a gigawatt of potential clean power capacity tied directly to its own infrastructure. That power is not theoretical. Most of it is already permitted, connected, or under construction.  And crucially, it is power that does not depend on short-term market pricing or fragile utility negotiations.

How Bitzero Struck Gold

So how did Bitzero beat the market? Long before AI forced this reckoning, Bitcoin exposed the physical limits of the digital economy.

Bitcoin’s proof-of-work system is unforgiving. Every unit of output is tied directly to electricity consumption, with the network consuming an estimated 175 terawatt-hours per year in 2025.

Today, producing a single Bitcoin requires hundreds of megawatt-hours of energy. That reality forced smart miners to secure their own power. Miners that relied on retail electricity or temporary discounts were priced out. Those that controlled long-term, low-cost power survived – and scaled. Bitcoin became a stress test for the grid, revealing which operators truly owned their energy inputs and which merely rented them.

The same situation is now playing out in the world’s most important industries, and the payoff stands to be significantly bigger. AI, cloud computing, and high-performance data centers operate on the same physical laws as Bitcoin.  No amount of software innovation can bypass the need for electricity.  And as demand surges, everybody wants what Bitzero has.

In fact, in May 2026, OneQode Networks was so eager to secure it that they signed a binding letter for a 15-year lease covering the full 110-megawatt capacity of Bitzero’s Norway campus. The agreement could generate roughly $2.6 billion in contracted revenue over its lifetime and represents exactly the kind of AI infrastructure demand that Bitzero is uniquely positioned to deal with.

The Perfect Power Play 

While competitors line up for grid approvals, Bitzero (AIBZ) owns its high-voltage lines, its substations, and its direct connections to power plants. No utilities. No bottlenecks. No competition for capacity.  When Bitzero expands, it doesn’t ask permission – it executes. But more impressive still, the company’s all-in electricity cost lands around 3.5¢ per kWh – among the lowest on Earth.

In total, the company controls over 1 gigawatt of growth capacity across four locations: two hydro-powered campuses in Norway, a massive renewable site in Finland designed for AI hyperscalers, and a nuclear-hardened, EMP-proof facility in North Dakota.

While others wait on permits, Bitzero is ready to deploy. And as Bitzero seeks more AI companies to partner with, the money is already rolling in via its Bitcoin mining operations.

Bitzero mines Bitcoin for roughly $50,000 per coin – far above the industry average, which is closer to $100,000. When Bitcoin trades at $80,000, most miners struggle. Bitzero still makes money, generating about $1 million in monthly EBITDA from its existing 40-MW Norway site.  Scale is only going to make that advantage larger. But, as the recent OneQode Networks deal shows, this is a company that can mine Bitcoin today and will host AI tomorrow. It can shift capacity to wherever returns are highest.

Importantly, while Bitcoin mining revenue fluctuates with crypto prices and network difficulty, AI infrastructure agreements like this one resemble the utility-style cash flows that public markets love. It isn’t surprising then that Shark Tank veteran Kevin O’Leary jumped in to become a strategic investor in Bitzero.

For O’Leary, the investment is a no-brainer. The way he sees it, both AI data centers and bitcoin miners are going to be “fighting for power contracts”. That means companies like Bitzero will end up acting as power companies, providing this critical resource to those who need it most. And as if access to power wasn’t enough, the company also manages to produce its power from 100% sustainable energy.

For O’Leary, this was a point of difference in an industry where “miners claim that they’re green, but they do that through purchasing carbon credits. Most of it is complete BS.”

“In the case of what Bitzero is doing – hydroelectric in Norway, nuclear in Finland – you know where it came from,” he says.

This is a company that has long been treating electricity as a product rather than a cost. They moved first, they secured their assets, and now they are exactly where everybody wants to be.

Other companies to watch:

SpaceX (Nasdaq: SPCX) completed the largest IPO in history on June 12, pricing at $135 a share for a $1.77 trillion valuation and topping $2 trillion in market cap on its first trading day. The listing raised roughly $75 billion and made Elon Musk the world’s first trillionaire on paper. But the AI data center story here isn’t really about rockets. It’s about what SpaceX became after merging with xAI in February: a company that now describes itself in its own IPO filing as the operator of “the largest AI training data center clusters on Earth.”

Those clusters are Colossus 1 and Colossus 2, the xAI supercomputers built near Memphis, Tennessee, originally to train Grok. In May, SpaceX struck a deal with Anthropic that hands over essentially the entire Colossus 1 facility — more than 300 megawatts of capacity across roughly 220,000 NVIDIA GPUs, including H100, H200, and GB200 accelerators. Anthropic will pay xAI $1.25 billion a month through May 2029, a contract that could bring in more than $40 billion over its life. It’s a striking arrangement: a direct AI competitor renting out the infrastructure that was supposed to be Grok’s competitive edge, in order to monetize compute Grok wasn’t fully using.

Oracle Corporation (NYSE: ORCL) Cloud Infrastructure was always NVIDIA’s awkward middle child compared to AWS, Azure, and GCP. That’s changed. The company has been quietly signing multi-billion-dollar AI contracts, including commitments from Meta and NVIDIA itself, and built what it describes as some of the world’s fastest-growing cloud data center capacity.

The honest watch item is that converting $638 billion in RPO into actual cash requires Oracle to build data centers fast enough to meet commitments — and it has acknowledged that demand exceeds current supply. That’s an execution challenge, not a demand problem.

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported Q1 2026 data center revenue of $5.8 billion, up 57% year over year — an all-time record — with total Q1 revenue of $10.25 billion, up 38%, beating Wall Street consensus by roughly $350 million. Free cash flow more than tripled to $2.57 billion. CEO Lisa Su called the quarter “a clear inflection in our growth trajectory,” and guided Q2 revenue to $11.2 billion, with server CPU revenue alone expected to grow more than 70% year over year.

AMD’s data center story runs on two rails that NVIDIA’s does not. First, EPYC server CPUs, which now hold significant market share in hyperscaler deployments across AWS, Google Cloud, and Microsoft Azure, deliver four consecutive quarters of record server CPU revenue. Second, Instinct GPUs are gaining traction as an alternative to NVIDIA in AI training and inference — and the demand signal is large.

Palo Alto Networks, Inc. (NASDAQ: PANW) is the company most directly positioned to capitalize on the cybersecurity problem. Q3 FY2026 revenue grew 31% year over year to $3.0 billion, with Next-Generation Security ARR growing 60% to $8.1 billion. Remaining performance obligation grew 36% to $18.4 billion.

CEO Nikesh Arora framed the quarter directly: “The latest advancements at the AI frontier have increased the level of urgency around cybersecurity, and redefined the shape of the industry for the coming years.” That’s not just marketing language. As AI agents begin executing real tasks inside enterprise systems — reading files, writing code, initiating transactions — the attack surface expands by an order of magnitude. Every new AI data center deployment is also a new target. The acquisition of Chronosphere, completed in January 2026, adds real-time observability for AI-driven digital operations, giving customers visibility into the data flows that power their AI systems.

Arm Holdings plc (NASDAQ: ARM) doesn’t make chips. It designs the instruction set architectures that most of the world’s chips are built on — and then collects royalties every time one of those chips ships. Every AWS Graviton processor, every Apple M-series chip, every NVIDIA Vera CPU runs on Arm architecture. Q4 FY2026 revenue hit $1.49 billion, up 20% year over year, with data center royalties more than doubling year over year for the second consecutive quarter.

The data center story for Arm is that its architecture is now winning the hyperscaler CPU market at scale. Arm-based CPUs hold approximately 50% market share among the top hyperscalers — AWS Graviton and Trainium, Google Axion and TPUs, Microsoft Cobalt, NVIDIA’s Vera CPU — all run on Arm. The efficiency advantage of Arm vs. x86 in per-watt performance matters enormously when you’re running hundreds of thousands of servers and paying hundreds of millions in electricity costs. CFO Jason Child expects data center royalties to double again in FY2027.

By. Josh Owens

Oilprice Intelligence brings you the inside view on where the next gains will come from, breaking down the market’s biggest growth driver with analysis from veteran oilmen and experts. Click here to get this crucial intel for free

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