The AI buildout is turbines, transformers and concrete.

Baseload Index tracks 53 listed companies across the physical layer of the AI capex cycle. Each morning it tells you which ones had a real event: an order win, a capex revision, a backlog number. Not just a price move.

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app.baseloadindex.com/dashboard18 Aug 2026 · agent run 06:12 ET · ok

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 %52wCapEarnsEvtSignalsScore ↓

GEVGE Vernovaturbines1,079.00+0.59%+2.40%−9.8%288B22 Oct4dCapex guideOrder winBacklog

PWRQuanta Servicesepc721.05+5.14%+6.80%−8.6%103B29 Oct2dEarningsBacklogAnalyst

ETNEatonelectrical449.69−0.40%+4.20%−5.9%167B30 Oct1dCapex guideAnalyst

NVDANVIDIAcompute219.43−0.62%−4.80%−7.2%5.41T26 Aug1dPartnershipAnalyst

CEGConstellation Energyutilities276.50−2.86%−6.20%−33.0%99B6 Nov2dCapex guideEarningsAnalyst+1

EMEEMCOR Groupepc836.29+0.59%+3.40%−12.2%37B29 Oct7dEarningsAnalyst

VSTVistra Corputilities143.63−1.24%−11.40%−34.7%49B6 Nov12dEarnings−20% DD

OKLOOklo Incnuclear41.40−4.46%−22.80%−78.6%8.6B6 Nov9dCapacityRegulatory200DMA ↓+1

VRTVertivcooling292.44+1.65%−8.60%−23.0%112B22 Oct—−20% DD

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The AI buildout is turbines, transformers and concrete.

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