AI, data centers and power grids drive the next wave of electrification - 29 May 2026

As of May 29, today’s news sees advancements in electrification and energy demand, driven by the integration of AI technologies. Prysmian has been a key player in the ongoing electrification boom. The Jupiter European Fund, managed by Jupiter Asset Management, has reported a remarkable 12% increase in 2026, outperforming 91% of its peers primarily due to its focus on stocks related to the electrification theme. Since the fund's management took over last year, Prysmian has witnessed over a 70% gain alongside increased investments in other energy-focused companies like Schneider Electric and Siemens Energy. Meanwhile, another dot-com era internet darling is back, Barron’s reported. After Intel, Cisco, and Corning earlier this year, data storage company NetApp is the latest tech stalwart set to finally surpass its 2000 record high. The shares jumped 33% to 189.73 dllars in early trading today after the company exceeded expectations on earnings and revenue in its fiscal fourth-quarter results late Thursday. Turning to market updates, Voss Capital is advocating for Sempra to spin off its Texas electricity unit, Oncor, to strengthen its growth potential. This split is perceived as a means to create a more streamlined and high-growth utility environment, free from the complexities of Sempra's primarily California-based operations. The proposal comes amid rising demand forecasts for electricity in Texas, with expectations that peak demand could reach over 111,000 megawatts by 2032, highlighting the region's economic growth and energy needs. In broader global scenarios, Mitsui's interest in LNG projects underscores the demand for clean energy solutions to power data centers, driven by AI requirements. As companies seek stability in their energy supply chains amid geopolitical tensions, Mitsui plans to strategically invest in multiple key regions, including the Middle East and Australia. Looking at energy pricing across Europe, gas prices are experiencing upward pressure, informed by geopolitical uncertainties surrounding the U.S.-Iran relationship and low gas storage levels. Analysts note the volatility as prices react to the potential resolutions of these international front issues. Meanwhile, wholesale electricity prices in Germany spiked on lower wind and solar generation, with expectations that they may stabilize as weather patterns shift. From the international front, the potential of a new U.S.-Iran agreement could significantly affect oil and gas markets if finalized. However, skepticism remains regarding the practical outcomes of any agreements, with concerns about their implementation remaining prevalent.