The Simplest AI Bet Isn’t a Chip Stock, Says a Venture Capitalist

Fred Wilson, co-founder of the venture firm Union Square Ventures, said in a clip shared on X that the simplest way to bet on AI is energy rather than technology stocks. Natural gas powers most new AI data centers but its price has barely moved. The U.S. has 1,391 operating data centers and 2,819 planned, and gas accounts for nearly 75% of planned on-site power. Chip stocks posted eight straight losing days last week while the Henry Hub U.S. natural gas benchmark mostly stayed between $2 and $4 per million British thermal units over the past decade. Wood Mackenzie expects it near $5 by 2035.