The article highlights 32 stocks attracting attention as Japan-related power infrastructure investment plays as AI adoption advances. It points to expanding global power demand and the importance of investment to support it.
With the arrival of the AI era, power infrastructure investment is being treated as a key theme in the Japanese market. The article covers 32 related stocks and explains the importance of developing the energy infrastructure needed to drive AI adoption as the backdrop to the investment targets.
Global power generation capacity has continued to increase since 2000, reaching 10,195 GW as of 2025. The breakdown is solar 2,391 GW, coal-fired 2,242 GW, gas-fired 2,088 GW, hydro 1,296 GW, wind 1,291 GW, nuclear 407 GW, other fossil fuels 325 GW, bioenergy 131 GW and other renewables 24 GW.
The three scenarios for data-center power demand presented in an IEA report project growth from 415 TWh in 2024 to 945 TWh in 2030 and 1,200 TWh in 2035 under the base case. The upside scenario could reach 1,700 TWh in 2035, while the downside scenario would remain at 700 TWh even in 2035. Power demand is said to be on an upward trend under all scenarios.
Against this backdrop, power infrastructure investment to develop the energy foundation for AI is positioned as an urgent issue. In the United States, data-center construction is advancing amid the AI boom, while the use of natural gas and nuclear power is reportedly being considered for expanding power generation capacity.