Peter Thiel’s Fund Shows the Next Big AI Bet Is Power, Not Chips
Peter Thiel’s hedge fund revealed a concentrated guess on AI’s energy wants in its latest SEC submitting. Thiel Macro LLC reported eight holdings value $418.7 million, with Amazon (AMZN) as the fund’s solely know-how place.
The fund’s 13F is a quarterly disclosure that institutional traders file with the SEC. The submitting confirmed zero holdings for the two prior quarters. This return marks a pivot towards electrical energy era, a useful resource many now see as AI’s actual bottleneck.
The 13F Reveals a Power-Heavy Portfolio
Thiel co-founded PayPal and Palantir Technologies and was an early investor in Facebook. He now runs Thiel Macro LLC, the fund behind this submitting. Amazon makes up 28.2% of the portfolio. The fund purchased the $118 million stake throughout the second quarter.
Amazon additionally lifted its 2026 capital spending plan to $220 billion, largely for cloud and AI infrastructure. Every different place in the portfolio sits in energy era or distribution.
Vista Energy (VIST), an Argentine shale producer, ranks second at 18.1%, value $75.9 million. Thiel relocated to Buenos Aires this 12 months, a transfer that traces up with the Argentine guess. BeInCrypto beforehand lined Thiel’s Vista Energy stake, his largest place outdoors Big Tech.
Vistra (VST), a nuclear-capable energy generator, follows at 14.1%. The fund rebuilt this $59.1 million place this quarter. Four regulated utilities spherical out the center of the portfolio. American Electric Power (AEP), DTE Energy (DTE), FirstEnergy (FE), and CMS Energy (CMS) every maintain 9 to 10 %.
Nuclear developer X-Energy (XE) rounds out the portfolio at below one %. AEP and FirstEnergy each cite AI-driven information heart progress in their very own regulatory filings.
The Next Big AI Bet?
Together, the six non-Amazon holdings take in almost 72% of the fund’s property. Utilities elsewhere face related strain as data center power demand strains regional grids nationwide.
The submitting covers positions by means of June 30, and Thiel Macro submitted it on August 14. The fund’s present holdings might already differ from this snapshot. Still, the allocation suggests Thiel is betting on electrical energy, not chips, to outline AI’s subsequent shortage.
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