The AI buildout is turbines, transformers and concrete.

Order wins, backlog numbers, capex revisions: the events that drive the AI capex cycle are scattered across filings, earnings calls and trade press. Baseload Index tracks 53 listed companies across the physical layer, and each morning it will tell you which ones had a real event. Not just a price move.

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app.baseloadindex.com/dashboard18 Aug 2026

US physical layer · standing indicatorslast updated 05:40

PJM interconnect queue

287GW

+18 QoQ

ERCOT large-load queue

138GW

+22 QoQ

Hyperscaler capex ’26

612USD bn

+4.2%

Henry Hub gas

4.18USD/MMBtu

+8.4%

US DC vacancy

1.6%

−0.2pp

HV transformer lead

168weeks

+4 wks

Recent revisions4 confirmed · trailing 30 daysGEV gas backlog 100 → 116 GW · 22 Julexpand

all53compute8turbines3utilities8nuclear5electrical6cooling5epc5materials4datacenter5fiber4

signals onlyfilter ticker or name

TickerNameLayerClose $ChgTrend30d %EvtSignalsScore ↓

GEVGE Vernovaturbines1,079.00+0.59%+2.40%4dCapex guideOrder winBacklog

PWRQuanta Servicesepc721.05+5.14%+6.80%2dEarningsBacklogAnalyst

ETNEatonelectrical449.69−0.40%+4.20%1dCapex guideAnalyst

NVDANVIDIAcompute219.43−0.62%−4.80%1dPartnershipAnalyst

CEGConstellation Energyutilities276.50−2.86%−6.20%2dCapex guideEarningsAnalyst+1

EMEEMCOR Groupepc836.29+0.59%+3.40%7dEarningsAnalyst

VSTVistra Corputilities143.63−1.24%−11.40%12dEarnings−20% DD

OKLOOklo Incnuclear41.40−4.46%−22.80%9dCapacityRegulatory200DMA ↓+1

VRTVertivcooling292.44+1.65%−8.60%—−20% DD

Dashboard · sample data

The AI buildout is turbines, transformers and concrete.

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