McKinsey projects data center electricity demand could grow 24% annually through 2030, with power supply lagging computing demand, and Vistra (VST) and GE Vernova (GEV) are highlighted as stocks positioned to help close that gap. Vistra's adjusted operating profit rose more than 30% year over year to nearly $1.8 billion in Q2 2026, though its stock fell 19% over the past year and trades at 27 times trailing earnings, with analysts expecting 34% annual earnings growth. Management expects annual load to grow at least 4% to 6% in ERCOT and 2% to 3% in PJM through 2030, driven by industrial reshoring, electrification, population growth and data centers. GE Vernova's total backlog reached $176 billion in Q2 2026 and is on track to hit $200 billion in 2027, while data center electrification orders topped $5 billion in the first half of 2026. The stock trades at 29 times earnings against projected 36% annual earnings growth, and the article flags execution risk on the backlog and softness in wind as potential headwinds.
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