Why Mega-Cap Tech Is Still the Smartest Investment in the Market
How AI’s energy appetite is reshaping the global economy
The headlines keep calling it a bubble, but bubbles don’t rebuild nuclear power plants.
This week, Google and NextEra Energy announced plans to restart the Duane Arnold Energy Center, a nuclear facility in Iowa that’s been dormant since 2020, to power Google’s growing network of AI data centres.
It’s more than just another energy deal.
It’s a signal that the most valuable companies in the world are no longer waiting for governments to meet their needs.
They’re building the next era of infrastructure themselves.
The Robots Are Demanding More Energy
U.S. electricity consumption hit an all-time high in 2024, and data centres were the main driver.
AI isn’t just a software story anymore — it’s an energy story.
When tech companies begin securing their own power grids, it tells us something important: this isn’t a passing hype cycle.
It’s industrial. Structural. Durable.
The same pattern that defined the 20th century oil age — where energy determined economic power — is repeating in the 21st century digital age.
Only this time, the commodity isn’t oil. It’s computation.
A Global Phenomenon
Around the world, nations are racing to catch up.
Saudi Arabia was once synonymous with oil. It now says more than half its economy is decoupled from hydrocarbons.
It’s building massive AI infrastructure and data centres “at a scale and cost not achieved anywhere else.”
Its leaders are clear: those who invest in AI will lead; those who lag will lose.
The world’s wealth is shifting from what powers machines to what powers computational intelligence.
And the companies leading that shift — Google, Microsoft, Nvidia, Amazon — are building empires that touch every layer of the digital economy: energy, infrastructure, compute, and application.
They’re not just scaling AI. They’re securing the foundations that make it unstoppable.
The Growth Path Is Clear
At North Tech Capital, we’ve been long mega-cap tech since August 2024.
Not just as a trade, but as a thesis.
The Global Tech 15 portfolio, our transparent SavvyTrader strategy, is built around this belief: that the companies driving the AI revolution are not speculative bets, but structural assets of the modern global economy.
This week, the portfolio rose 2.31% versus 1.74% for the S&P 500.
Over the past year, we’re up 39%, with a 46.33% compound annual growth rate since inception.
Those returns aren’t luck.
They’re the result of holding through noise and allocating where innovation compounds: in the world’s most dominant, energy-hungry, intelligence-creating companies.
We remain long.
Not because it’s fashionable, but because it’s fundamental.
The future runs on intelligence.
And intelligence runs on raw computational power.