We got news this morning that NextEra Energy (NYSE: NEE) landed a deal to expand its partnership with Google (NASDAQ: GOOG) to build multiple gigawatt-scale data-center campuses across the U.S.

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This is just more evidence that energy infrastructure and AI will continue to collide, facilitating a convergence likely to define how power production, data centers, and grid planning evolve for years.

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Understand, this is more than just servers and wires.  We’re talking about data-center campuses large enough to demand power on the scale of small cities. That kind of scale needs serious energy backing. And this is exactly what NextEra can provide. 

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Now if you’re a regular reader of these pages, you know that as AI and cloud workloads balloon, inconsistent energy can kill performance. This is why this partnership is so important: it can deliver both data center capacity and the energy infrastructure designed to support it.  NextEra is one of those companies, as well as AES Corporation (NYSE: AES) and PowerBank (NASDAQ: SUUN).  

The Shape of What’s to Come

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As we head into 2026, we expect to see rapid construction of data centers across North America, with most of those being powered by solar and storage.  This is the result, not of companies seeking some kind of “green credibility,” but instead, lower costs, faster construction timelines and energy security.  Indeed, we are now entering an era where  solar+storage, infrastructure, data and AI are converging to become an integrated stack.  It’s no longer about just buying megawatts or servers, it’s about building future-proof infrastructure. 

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Now NextEra had a pretty good run this year.  YTD, the stock is up about 13%, and that doesn’t include the 2.7% dividend.

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And heading into 2026, the stock doesn’t look too bad.

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The company recently raised its adjusted earnings forecast for 2026, projecting $3.92 – $4.02/share. That’s a bump from earlier guidance and reflects growing electricity demand, especially from energy-intensive tech infrastructure such as AI data centers. 

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NextEra also has a history of steady dividend increases. In 2026, the company expects dividend per share growth of roughly 10% annually, subject to board approval. That's appealing for income-oriented investors.

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And then there are just those very attractive macro tailwinds. i.e.) demand surge from AI, data centers, and grid strain.

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Of course, no stock is perfect, and it would be irresponsible to ignore the fact that to build its renewable pipeline and expand capacity, NextEra has taken on a lot of debt.  And relative 

to expected growth, the stock is pretty fairly priced where it is right now. So any upside in 2026 would be limited unless execution significantly outpaces expectations.

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Assuming perfect conditions, NextEra could clock in at around $90/share next year.  That would represent an estimated gain of about 9%. That’s not bad, and it doesn’t include the dividend.  

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If you’re building a long-term portfolio with a tilt toward energy and clean infrastructure, NEE would be a good stock to own heading into 2026. It’s not the highest-beta high-flyer, but it has a wide-moated business model, multiple growth levers, and a yield + growth combo that plays well in uncertain macro times.

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To be sure, this isn’t a road to triple-digit gains, but it could deliver steady returns, rising dividends, and upside from renewables, nuclear, and AI-driven power demand. 

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If you’re focused on stability + growth + yield, NextEra is one of the more compelling “core energy” holdings you can own right now.

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