Powering the AI S-Curve: A 2026 Bill Cara Portfolio Built Around Physical Constraints, Not Hype

Why a focused sleeve in power, grid, and data-center infrastructure—anchored by NEE, FE, PWR, VRT, ANET and a curated set of AI platforms and robotics—offers a resilient way to play the AI revolution

Executive Summary

The dominant business story of 2026 is unlikely to be “more AI models” but rather the collision between AI’s massive capital intensity and the physical and financial limits of the real world. Hyperscalers are pushing AI capex into the 500–700 billion USD range, straining power grids, transmission infrastructure, data-center cooling, and…