AI drives demand for goods beyond just semiconductors and software. Investors are increasingly looking at energy ******* ets to power data centers. This includes natural gas pipelines, electric utilities, transmission networks and nuclear energy. Several of the best ETFs focus on these industries.
"Electricity is the new oil," said Tortoise Capital Chairman and CEO Tom Florence. He argues that the growing need for power will become one of the big investment themes of the coming decade.
This fits squarely into Tortoise's roots. Founded in 2002, the investment firm built its reputation investing in energy infrastructure. It started in master limited partnerships (MLPs), but later expanded across the broader energy industry. Today, it applies that expertise to newer energy demand. And that includes the electricity needed to power AI data centers.
Florence became CEO in 2023. He previously held senior leadership roles at Merrill Lynch, Fidelity and Morningstar. And at Tortoise he is leading that transition as the firm broadens its ETF lineup.
Tortoise has $10.7 billion in ******* ets under management across ETFs and institutional strategies. Its fund lineup includes nine funds focused on the energy sector. Clients include financial advisors, institutions and individual investors.