The GPT-5 era has arrived! Can it reignite the AI market once again?
Trump's "AI Action Plan" is about to be unveiled! Who is likely to become the biggest winner?
The U.S. "AI Action Plan" is expected to be unveiled with great news this week.
On July 23, Trump will give a speech at an event called "Winning the AI Race." The market widely expects that this speech will provide a comprehensive introduction to the AI action plan that the Trump administration is set to release.
This action plan is a policy initiative launched by an executive order signed by Trump just days after taking office in January of this year, and it has now entered the final confirmation stage. Notably, the White House is also considering designating July 23 as "AI Action Day."
According to reports, this plan focuses on promoting key technology exports and accelerating the construction of data centers, reflecting its policy direction of "supporting AI growth" and "light regulation," aiming to ensure that the United States maintains its lead in the global AI race.
These actions are a key step for the U.S. government in shaping AI policy agendas and will directly impact multiple industries, including Technology, Semiconductors, and Energy. Next, the AI action plan and the industries expected to benefit will be explained one by one.
"What is the AI action plan?"
According to reports from Wall Street News, the most market-relevant initiative within the "AI action plan" is the executive order aimed at promoting U.S. chip and AI tool exports. Additionally, the plan will also work to significantly simplify the approval process for data center construction and facilitate energy supply for these energy-intensive facilities to meet the explosive demand for computational infrastructure in the AI industry. Specifically:
Focusing on AI exports.An upcoming executive order will clearly instruct U.S. government agencies to promote the export of American-made semiconductors and artificial intelligence tools using organizations like the Export-Import Bank of the United States. Insiders reveal that the strategic goal of this move is to ensure that countries friendly to the United States can operate AI systems based on American technology.
Accelerating the approval of data centers.The action plan of the Trump administration is expected toaccelerate the construction permit approval process for data centers.In addition to streamlining approvals, the plan will also focus on providing sufficient energy security for thesedata centers.
"Light regulatory" framework to avoid industry controversies.Media reports indicate that, This 20-page action plan largely conveys a policy signal of "non-intervention" and "pro-growth."
Additionally, the White House is preparing to issue an executive order targeting "Woke AI," which is expected to require AI companies receiving federal contracts to maintain political neutrality.
Victoria LaCivita, spokesperson for the White House Office of Science and Technology Policy, stated: "The action plan will provide a strong, concrete, and actionable federal policy roadmap," adding, "we look forward to releasing it soon."
Which companies are likely to benefit?
Last week, reports indicated that Trump would announce a $70 billion investment, aimed at accelerating the layout of AI and energy.
Morgan Stanley predicts that total global spending on data centers will reach approximately $2.9 trillion by 2028, with about $1.6 trillion on hardware (such as chips and Servers), and another $1.3 trillion for constructing data center infrastructure, including Real Estate, construction costs, and maintenance expenses.
Blackrock predicts that driven by trends such as energy transition and AI competition, capital expenditure will continue to grow. By 2030, annual capital expenditure in energy and artificial intelligence-related fields is expected to reach $3.52 trillion and $600 billion respectively.
These trends interact with each other; for example, the enormous electricity demand of artificial intelligence intertwines with the limitations of energy production and grid capacity, tightly linking technology with energy transition.
Source: Blackrock
previously"$70 billion bet on AI and energy! In the era of Trump 2.0, these areas are the focus of layout."It also stated thatdata centers, power infrastructure, as well as AI chip and software service providers, could become beneficiaries of this wave of AI.
Data center Industry Chain![The US "AI Action Plan" may be heavily unveiled this week. On July 23, Trump will deliver a speech at an event called "Winning the AI Race." The market generally expects thatthis speech will provide a comprehensive introduction to the AI Action Plan that the Trump administration is about to release. This action plan is a policy mission initiated by an executive order signed by Trump just days after he took office in January of this year, and it is currently in the final stages of completion. Notably,The White House is also considering July 23 as "AI Action Day." According to reports, this plan focuses on promoting key technology exports and accelerating data center construction, reflecting its policy orientation of "supporting AI growth" and "light regulation," aiming to ensure the United States maintains its lead in the global AI competition. These actions are a key step for the U.S. government in shaping the AI policy agenda and will directly impact multiple industries such as Technology, semiconductors, and Energy. Next, the AI action plan and the industries expected to benefit will be explained one by one. "What is the AI action plan?" According to reports from Wall Street, the most关注ed measure in the "AI Action Plan" is the executive order aimed at promoting the export of American chips and AI tools. In addition, the plan will also focus on greatly simplifying the approval process for the construction of data centers and facilitating the energy supply for these high-energy-consuming facilities to meet the explosive demand for computing power infrastructure in the AI industry. Specifically: [Grin]Focusing on AI exports The upcoming executive order will clearly instruct U.S. government agencies to utilize U.S. Exim Bank and other ...](https://nnqimage.futunn.com/sns_client_feed/900080/20250721/web-1753087736472-vW6ztGznfu.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
In terms of chips,investors can focus on $NVIDIA (NVDA.US)$ 、 $Broadcom (AVGO.US)$ 、 $Marvell Technology (MRVL.US)$ 、 $Intel (INTC.US)$ 、 $Micron Technology (MU.US)$ 、 $Advanced Micro Devices (AMD.US)$ such chip giants.
In terms of IT infrastructure, focus on servers $Dell Technologies (DELL.US)$ 、 $Super Micro Computer (SMCI.US)$ 、 $Hewlett Packard Enterprise (HPE.US)$ ; networks $Cisco (CSCO.US)$ 、 $Arista Networks (ANET.US)$ and storage $Everpure (PSTG.US)$ 、 $NetApp (NTAP.US)$ And so on.
In terms of data centers,Pay attention $Microsoft (MSFT.US)$ 、 $Alphabet-A (GOOGL.US)$ 、 $Amazon (AMZN.US)$ 、 $Meta Platforms (META.US)$ 、 $Oracle (ORCL.US)$ 、 $CoreWeave (CRWV.US)$ 。
Data center developers and operatorsShould pay attention to $Digital Realty Trust Inc (DLR.US)$ 、 $Equinix Inc (EQIX.US)$ 、 $DigitalBridge Group (DBRG.US)$ 。
Hyperscale enterprisesIncluding $Microsoft (MSFT.US)$ 、 $Amazon (AMZN.US)$ 、 $Alphabet-A (GOOGL.US)$ 、 $Oracle (ORCL.US)$ etc.;
AI Cloud ServicesFollow NVIDIA's three computing treasures. $CoreWeave (CRWV.US)$ 、 $NEBIUS (NBIS.US)$ 、 $Applied Digital (APLD.US)$ ；
In addition,Like electrical equipment $Eaton (ETN.US)$ 、 $GE Vernova (GEV.US)$ AndLiquid cooling service providers $Vertiv Holdings (VRT.US)$ 。
Power infrastructureIt is worth noting that Trump and other government officials have also emphasized the importance of meeting another priority for the Technology industry:Ensure that the United States has enough power to operate energy-intensive AI data centers.
Therefore, energy has become an indispensable part of data centers, such as $GE Vernova (GEV.US)$ 、 $First Solar (FSLR.US)$ 、 $Enphase Energy (ENPH.US)$ 、 $NextEra Energy (NEE.US)$ ; in the Oil & Gas sector. $Exxon Mobil (XOM.US)$ 、 $Chevron (CVX.US)$ ; and nuclear power stocks $NuScale Power (SMR.US)$ 、 $Oklo Inc (OKLO.US)$ 、 $NANO Nuclear Energy (NNE.US)$ 、 $BWX Technologies (BWXT.US)$ 。
Specifically, the vigorous development of AI is turning data centers into major energy consumers. The growth rate of their electricity demand has outpaced that of electric vehicles, hydrogen energy, and other emerging industries. It is expected that by 2035, data centers will account for 8.6% of the total electricity demand in the United States, more than double the current 3.5%.
Bloomberg New Energy Finance (BNEF) predicts that by 2035, electricity demand from data centers in the United States will more than double, increasing from nearly 35 GW in 2024 to 78 GW. The actual energy consumption growth will be even more rapid, with average hourly electricity demand expected to nearly double, increasing from 16 GW in 2024 to 49 GW in 2035.
Source: BNEF
Wall Street generally believes that, the ideal alternative energy source is nuclear energy, because it provides stable, pollution-free electricity and reduces overall decarbonization costs by limiting investment in the grid and the need for Battery storage to transmit and consolidate the supply of solar and wind energy. Therefore, nuclear power stocks are also expected to experience a strong uptrend.
Trump previously announced a new nuclear power policy:the plan is to launch the construction of 10 large nuclear power plants by 2030 and quadruple the U.S. nuclear power capacity by 2050. This news has also stimulated a surge in some nuclear power Concept stocks.
![The US "AI Action Plan" may be heavily unveiled this week. On July 23, Trump will deliver a speech at an event called "Winning the AI Race." The market generally expects thatthis speech will provide a comprehensive introduction to the AI Action Plan that the Trump administration is about to release. This action plan is a policy mission initiated by an executive order signed by Trump just days after he took office in January of this year, and it is currently in the final stages of completion. Notably,The White House is also considering July 23 as "AI Action Day." According to reports, this plan focuses on promoting key technology exports and accelerating data center construction, reflecting its policy orientation of "supporting AI growth" and "light regulation," aiming to ensure the United States maintains its lead in the global AI competition. These actions are a key step for the U.S. government in shaping the AI policy agenda and will directly impact multiple industries such as Technology, semiconductors, and Energy. Next, the AI action plan and the industries expected to benefit will be explained one by one. "What is the AI action plan?" According to reports from Wall Street, the most关注ed measure in the "AI Action Plan" is the executive order aimed at promoting the export of American chips and AI tools. In addition, the plan will also focus on greatly simplifying the approval process for the construction of data centers and facilitating the energy supply for these high-energy-consuming facilities to meet the explosive demand for computing power infrastructure in the AI industry. Specifically: [Grin]Focusing on AI exports The upcoming executive order will clearly instruct U.S. government agencies to utilize U.S. Exim Bank and other ...](https://nnqimage.futunn.com/sns_client_feed/900080/20250721/web-1753087735193-jr9V7PjA4b.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
According to a Research Report from Guosheng Securities, the SMR nuclear power Industry Chain covers all aspects from upstream fuel uranium ore, mid-stream research and construction, to downstream operation and waste management.
Upstream: Raw materials and processing
The upstream Industry Chain mainly involves the supply of basic raw materials, key equipment, and nuclear fuel necessary for nuclear energy development, primarily including uranium mining and uranium enrichment.
Specifically, uranium mining includes $Cameco (CCJ.US)$ 、 $Uranium Energy (UEC.US)$ 、 $Energy Fuels (UUUU.US)$ 、 $Denison Mines (DNN.US)$ 、 $NexGen Energy (NXE.US)$ ; nuclear fuel processing $Centrus Energy (LEU.US)$$ 。
Midstream: Design, Research & Development and Construction.
Midstream includes design, research & development, and construction. Among them,
$NuScale Power (SMR.US)$ is the first publicly listed SMR nuclear power company, with its core product being the SMR power module;
$Oklo Inc (OKLO.US)$ focuses on the development of small modular reactors (SMR), and has received investment from Sam Altman, the 'father of ChatGPT';
$NANO Nuclear Energy (NNE.US)$ with a focus on developing small modular reactors, its main business covers four SMR-related areas, including manufacturing, fuel, transportation, and other links, aiming to create a diversified vertically integrated Industry Chain;
$BWX Technologies (BWXT.US)$ emphasizes the manufacturing of nuclear reactor components and nuclear technology, with the main difference from SMR/OKLO being that BWXT is a large equipment supplier and technology service provider, primarily providing nuclear reactor components, nuclear fuel, and defense-related nuclear technology for government and commercial sectors, including clients like the U.S. government (such as providing nuclear reactors for naval submarines).
Downstream: Operation, Sales, and Waste Disposal.
Downstream is mainly for the operation of nuclear power plants and energy supply.Participants include $Constellation Energy (CEG.US)$ 、 $Vistra Energy (VST.US)$ 、 $American Electric Power (AEP.US)$ 、 $Southern (SO.US)$ 、 $Exelon (EXC.US)$ 、 $Duke Energy (DUK.US)$ 、 $Entergy (ETR.US)$ 、 $Public Service Enterprise Group (PEG.US)$ And so on.
In addition, electrical and electrical equipment includes $GE Vernova (GEV.US)$ 、 $Eaton (ETN.US)$ 、 $Honeywell (HON.US)$ 、 $Emerson Electric (EMR.US)$ 、 $Graham (GHM.US)$ And so on.
Goldman Sachs' latest Research Reports on the Nuclear Industry point out that the global uranium market is heading towards a structural shortage era. This trend will begin to accelerate in 2025, and by 2040, the global uranium gap will reach 0.13 billion pounds.At the same time, the demand for nuclear power is surging in the AI era, leading to a full-scale explosion of global nuclear power installations.
Analysis points out that the imbalance of uranium supply and demand, the surge in nuclear power demand, and other electrification trends will together drive the investment value of the nuclear energy Industry Chain. Zerohedge states,The nuclear power theme is expected to continue outperforming the market in the 2030s, and it is likely to extend into the 2040s.
AI softwareBy 2025, investors will shift from AI infrastructure to broader promotion and monetization of AI 'third phase' applications.
![The US "AI Action Plan" may be heavily unveiled this week. On July 23, Trump will deliver a speech at an event called "Winning the AI Race." The market generally expects thatthis speech will provide a comprehensive introduction to the AI Action Plan that the Trump administration is about to release. This action plan is a policy mission initiated by an executive order signed by Trump just days after he took office in January of this year, and it is currently in the final stages of completion. Notably,The White House is also considering July 23 as "AI Action Day." According to reports, this plan focuses on promoting key technology exports and accelerating data center construction, reflecting its policy orientation of "supporting AI growth" and "light regulation," aiming to ensure the United States maintains its lead in the global AI competition. These actions are a key step for the U.S. government in shaping the AI policy agenda and will directly impact multiple industries such as Technology, semiconductors, and Energy. Next, the AI action plan and the industries expected to benefit will be explained one by one. "What is the AI action plan?" According to reports from Wall Street, the most关注ed measure in the "AI Action Plan" is the executive order aimed at promoting the export of American chips and AI tools. In addition, the plan will also focus on greatly simplifying the approval process for the construction of data centers and facilitating the energy supply for these high-energy-consuming facilities to meet the explosive demand for computing power infrastructure in the AI industry. Specifically: [Grin]Focusing on AI exports The upcoming executive order will clearly instruct U.S. government agencies to utilize U.S. Exim Bank and other ...](https://nnqimage.futunn.com/sns_client_feed/900080/20250721/web-1753087737686-ZwvXGqBJBL.png/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
This includes,AI + data analysisthe $Palantir (PLTR.US)$ 、 $Cellebrite (CLBT.US)$ 、 $Elastic (ESTC.US)$ ；
AI + Cloud Servicesthe $ServiceNow (NOW.US)$ 、 $CommVault Systems (CVLT.US)$ 、 $Datadog (DDOG.US)$ 、 $Cloudflare (NET.US)$ 、 $Snowflake (SNOW.US)$ 、 $MongoDB (MDB.US)$ 、 $Confluent (CFLT.US)$ 、 $Gitlab (GTLB.US)$ 、 $Fastly (FSLY.US)$ ；
AI + Digital Advertising and Marketing. $Applovin (APP.US)$ 、 $The Trade Desk (TTD.US)$ 、 $Digital Turbine (APPS.US)$ 、 $Klaviyo (KVYO.US)$ 、 $Zeta Global (ZETA.US)$ 、 $Braze (BRZE.US)$ 、 $Adobe (ADBE.US)$ 、 $Twilio (TWLO.US)$ 、 $Life360 (LIF.US)$ ；
AI + Enterprise Solutionsthe $Doximity (DOCS.US)$ 、 $Workday (WDAY.US)$ 、 $Automatic Data Processing (ADP.US)$ 、 $Zoom Communications (ZM.US)$ 、 $SAP SE (SAP.US)$ ；
Overall, the Trump 2.0 era reflects a full trust in the private sector, highlighting profound insights into energy bottlenecks and a strategic layout of the political landscape.
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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