Power capital spending
Generation and grid equipment the sites depend on. Capital spending and cash flow of Vistra, Constellation and GE Vernova, from their filings.
Capital spending, four quarters$8.9B+38.9% against the four before
Capital spending, latest quarters$2.6BSum of each company’s latest quarter
Spend as share of cash flow31%Latest reported quarters combined
Companies3Public companies with structured filings
| Layer | Trend | Period ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ConstellationCEG | Power | $1.2B | $3.9B | +36.5% | $1.1B | −$118.0M | 110% | +$2.1B | Jun 2026 | |
| VistraVST | Power | $689.0M | $2.9B | +11.4% | $1.0B | $334.0M | 67% | +$432.0M | Jun 2026 | |
| GE VernovaGEV | Power | $647.0M | $2.1B | +119.8% | $6.1B | $5.4B | 11% | — | Sep 2026 |
Four-quarter figures are the latest four reported quarters; the change compares the four before. Company-wide cash capex, not AI-only spending. Reporting periods vary. Debt change is the quarterly change in the long-term balance, not cash borrowing. Definitions and methodology
Is all power-sector capex related to AI?
No. These companies serve broader electricity and equipment markets. Their reported capital spending includes investment unrelated to data centers. The data should be read as company-level financial context, not an allocation of spending to AI.