AI Power Shortage Spurs 'BYOL' Self-Powered Data Center Boom, Power-Themed ETFs Shine

Due to aging U.S. power grids unable to support AI's massive energy demands and lengthy grid connection timelines (3–7 years), tech giants like Amazon, Microsoft, Google, and Meta are adopting a 'Bring Your Own Power' (BYOL) model to accelerate AI data center (AIDC) deployment. This shift is driving significant growth in self-powered AIDC opportunities and sparking a new industrial-scale 'race for power' in the U.S. AI energy market, boosting long-term performance prospects for power-themed ETFs. Investors are advised to capitalize on rising AI power demand through power ETFs.

Wealth management executives note a surge in overseas energy products. In addition to five power-themed ETFs—Taiwan New America Power Infrastructure (009805-TW), CTBC Data & Power (009819-TW), Fubon ESG Green Power (00920-TW), FT Clean Energy (00899-TW), and CTBC Battery & Storage (00902-TW)—the Taiwan New Global AI Power Fund will launch its fundraising on August 10. Alongside existing funds focused on utilities and digital infrastructure, power-themed passive investment products are gaining market attention and investor enthusiasm.

According to CMoney, as of July 22, overseas power-related ETFs have performed well this year. Among them, 009805 Taiwan New America Power Infrastructure, 00920 Fubon ESG Green Power, and 00899 FT Clean Energy have delivered double-digit gains, standing out in performance.

In recent performance, Taiwan New’s 009805 and FT Huamei’s 00899 have maintained positive returns over the past three months, leading the pack. Amid financial market deleveraging and bubble-popping pressures, green energy and power infrastructure sectors have demonstrated defensive characteristics typical of utilities, serving as safe havens for equity capital.

Liu Heng-chih, manager of the Taiwan New America Power Infrastructure ETF (009805-TW), highlights four key beneficiary groups from the U.S. AIDC self-power trend. First, on-site power generation companies, including on-site gas power, nuclear, small modular reactors (SMRs), and renewable/solar developers. These provide 24/7 stable baseload power for AI via micro-gas turbines or SMRs. Key beneficiaries include NextEra Energy (NEE).

Second, grid storage and microgrid system providers like Fluence Energy (FLNC) that ensure power stability. Third, heavy and distribution power infrastructure equipment suppliers such as Eaton (ETN) and nVent (NVT), which provide transformers, uninterruptible power supplies (UPS), and electrical protection devices. Fourth, high-efficiency cooling and energy recovery system providers like Vertiv (VRT), meeting the 'Bring Your Own Power & Cooling' (BYOP&C) demand with liquid cooling and HVAC systems for data centers.

Looking ahead, Taiwan New’s quantitative investment team forecasts growing U.S. AIDC demand for 'behind-the-meter' power generation (installed behind the user’s meter). Key beneficiaries include gas turbines, solid oxide fuel cells (SOFCs), and battery storage. SOFCs are emerging as a new solution for on-site AIDC power. DIGITIMES estimates Bloom Energy (BE), the SOFC leader, will maintain dominance, with revenues projected to grow over 80% by 2026, gradually replacing gas turbines and becoming a new U.S. power supply trend.

Overseas Power & Energy ETF Performance:

- 009805 Taiwan New America Power Infrastructure: 1M -2.44%, 3M 3.08%, 6M 23.96%, YTD 33.01% - 00899 FT Clean Energy: 1M -6.8%, 3M 1.51%, 6M 13.04%, YTD 23.69% - 00920 Fubon ESG Green Power: 1M -7.89%, 3M -0.4%, 6M 24.92%, YTD 36.34% - 00902 CTBC Battery & Storage: 1M -21.54%, 3M -23.39%, 6M -10.23%, YTD -3.22% - 009819 CTBC Data & Power: 1M -5.92%, 3M —, 6M —, YTD — (listed April 23, 2026)

Source: CMoney, July 22, 2026, Unit: Total Return %; Note: CTBC 009819 listed on April 23, 2026