The exponential growth of data centres worldwide amidst the boom in artificial intelligence (AI) has resulted in a massive increase in the demand for electricity.
In the US alone, investor-owned utilities are expected to invest over US$1.1 trillion in capital expenditure between 2025 and 2029.
This investment is being done to upgrade grid infrastructure and power capacity to meet the growing AI-demand.
However this trend is not limited to the US, as Singapore is also trying to take advantage of the AI energy boom.
Here are three Singapore-listed stocks poised to benefit from this global trend.
Geo Energy Resources (SGX: RE4)
Geo Energy Resources or GEOE is a coal mining company specialising in coal-fired power generation and infrastructure.
In the first quarter of 2025 ending 31 March 2025 (1Q 2025), GEOE reported a revenue growth of 68% year-on-year (YoY) to US$166 million.
The firm also reported an increase in net profit of 63% YoY to US$14.1 million.
This strong performance was largely driven by a surge in demand with 3.5 million tonnes of coal being delivered in 1Q 2025, double that of the same quarter in the previous year.
The company also credits their robust cash profit per tonne at US$11.6 per tonne to its cost resilient model.
This model allows its cash production costs to move in tandem with the Indonesian Coal Index 4 (ICI4) prices which helps to protect their profit margins.
ICI4 is the market benchmark for the selling price of coal.
GEOE’s subsidiary, PT Marga Bara Jaya, is developing its integrated infrastructure which is expected to be completed by June 2026.
This development enables the group to increase production at its production facility, Tanjung Raya Asphalt, by over 20 million tonnes per year, resulting in significant logistical savings which will help to strengthen the group’s bottom line.
Management also has a positive outlook, especially in the US where it plans to boost coal technology and exports.
This boost is due to higher power demand from the resurgence of domestic manufacturing and the construction of AI data processing centres.
Seatrium Limited (SGX: 5E2)
Seatrium is a company specialising in maritime and energy engineering solutions.
In the first half of 2025 ending 30 June 2025 (1H 2025), Seatrium saw a rise in revenue of 34% YoY to S$5.4 billion.
The firm also reported substantial growth in net profit of 301% year on year to S$144 million.
This growth was driven by its oil and gas segment and its offshore wind segment.
In 1H 2025, the oil and gas segment revenue jumped by 26% YoY to S$3.6 billion.
This jump was credited to successfully delivered projects and rising global energy demand from data centres and AI.
In the same period, the offshore wind segment revenue soared by 106% YoY to S$1.1 billion.
This jump in revenue was due to its completion of large projects and high demand in Europe and Asia Pacific.
On 16 April 2024, Seatrium partnered with A*STAR to develop new energy solutions and implement AI applications in its offshore maritime infrastructure.
A*STAR is Singapore’s leading public research and development agency.
This partnership aims to develop new hydrogen and ammonia fuel solutions to support energy transition.
These new energy solutions will also help to diversify Seatrium’s energy portfolio, which allows the group to capitalise on AI-driven energy demand.
Keppel Infrastructure Trust (SGX: A7RU)
Keppel Infrastructure Trust or KIT is a business trust that manages infrastructure assets with a focus on energy utilities.
In 1H 2025, KIT reported a climb in distributable income of 31% YoY to S$119 million.
The largest operational growth was in its City Energy segment, which saw distributable income soaring by 43.4% YoY to S$30.1 million.
The City Energy segment supplies piped town gas for commercial and residential use.
One of the ways KIT stands out from its competitors is its continuous value creation within its segments to optimise its portfolio.
For instance, the City Energy segment is expanding into liquified petroleum gas and electric vehicle charging offerings.
Additionally, KIT’s growth is fueled by strategic collaborations with external stakeholders.
On 25 June 2025, Keppel Ltd (SGX: BN4), the parent company of KIT, announced a partnership with Asian Infrastructure Investment Bank.
This partnership is to secure a S$1.5 billion funding for sustainable infrastructure, connectivity and technology-enabled infrastructure.
This investment is in response to high demands for power due to rapid urbanisation.
This collaboration will expand KIT’s portfolio and enable it to be well-positioned to fuel the growing AI sector.
Get Smart: Backing Singapore’s victors in the AI energy race
As AI gets increasingly more sophisticated and widespread, companies supplying power to these applications stand to reap long-term rewards.
These three Singapore stocks are capturing this tailwind through various mediums from renewable energy to critical infrastructure.
Keeping these stocks on your watchlist enables you to be ready to tap into this megatrend.
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Disclosure: Gabriel Lim does not own shares in any of the companies mentioned.
