Peter Thiel is a billionaire investor who co-founded PayPal and Palantir. He was the first outside investor in Facebook, and he runs Founders Fund, the venture firm that put the first institutional money into ******* eX.
Thiel Macro LLC, the fund run by the PayPal and Palantir co-founder, recently filed its second-quarter 13F. The filing shows the fund bought 308,617 shares of American Electric Power Company, Inc. (NASDAQ:AEP) and 839,319 shares of FirstEnergy Corp. (NYSE:FE) in the second quarter. The AEP stake was worth $42.22 million at the end of the quarter, and the FirstEnergy stake was worth $39.90 million.
In this article, we will focus on AEP.
For decades, American Electric Power was just a major utility company providing electricity to American households, with no prospects of explosive growth. But the AI boom changed everything. Training and running large models need enormous amounts of round-the-clock electricity, and hyperscalers are racing to build data centers wherever they can get power. Demand is now coming to AEP faster than it can serve it. Why? Because it runs a major transmission network in the US across 11 states. The company now has 69 gigawatts of contracted load additions through 2030, up 6 gigawatts in the second quarter alone. Around 90% of that is data centers. Texas customers alone have put up nearly $2 billion in cash and collateral. If a customer walks away, termination fees and minimum demand clauses protect the shareholder.
AEP locks customers in with letters of agreement, electric service agreements and large-load tariffs that require minimum demand after ramp, plus collateral and termination fees.
#power #company #thiel
Thiel Macro LLC, the fund run by the PayPal and Palantir co-founder, recently filed its second-quarter 13F. The filing shows the fund bought 308,617 shares of American Electric Power Company, Inc. (NASDAQ:AEP) and 839,319 shares of FirstEnergy Corp. (NYSE:FE) in the second quarter. The AEP stake was worth $42.22 million at the end of the quarter, and the FirstEnergy stake was worth $39.90 million.
In this article, we will focus on AEP.
For decades, American Electric Power was just a major utility company providing electricity to American households, with no prospects of explosive growth. But the AI boom changed everything. Training and running large models need enormous amounts of round-the-clock electricity, and hyperscalers are racing to build data centers wherever they can get power. Demand is now coming to AEP faster than it can serve it. Why? Because it runs a major transmission network in the US across 11 states. The company now has 69 gigawatts of contracted load additions through 2030, up 6 gigawatts in the second quarter alone. Around 90% of that is data centers. Texas customers alone have put up nearly $2 billion in cash and collateral. If a customer walks away, termination fees and minimum demand clauses protect the shareholder.
AEP locks customers in with letters of agreement, electric service agreements and large-load tariffs that require minimum demand after ramp, plus collateral and termination fees.
#power #company #thiel
12 days ago
