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AI's insatiable appetite for electricity could revive a forsaken energy source

Cnbc · · 2099 words · By Jim Cramer
Data Center Infrastructure Energy Sector Investment US Energy Policy
open_in_new Read the original article: https://www.cnbc.com/2026/05/17/cramer-ais-appetite-for-electricity-could-revive…

psychologyDetected Techniques

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Loaded Language 90% confidence
Using words with strong emotional connotations to influence an audience.
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Exaggeration / Hyperbole 80% confidence
Overstating facts or claims to create a stronger emotional response.
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Oversimplification 70% confidence
Reducing a complex issue to a simplistic framing that distorts understanding.

fact_checkFact-Check Results

21 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 11
info Single Source 5
check_circle Corroborated 3
help Insufficient Evidence 2
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“B & W has a $2.7 billion backlog, $2.4 billion of which is a deal with Base Electron, backed by Applied Digital”
CORROBORATED
Multiple sources confirm the $2.4 billion deal with Base Electron (an Applied Digital subsidiary). One source specifically mentions a continuing operations backlog of $2.8 billion, which aligns closely with the claimed $2.7 billion.
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web search NEUTRAL — Babcock & Wilcox has agreed to design, procure and construct four 300-megawatt natural gas-fired power systems to support Applied Digital data centers. Released Wednesday, March 18, 2026.
https://www.industrialinfo.com/iirenergy/industry-news/artic…
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web search NEUTRAL — The Bull Case: A Backlog That Changed Everything. The biggest catalyst is the $2.4 billion design-build contract with Base Electron, an Applied Digital subsidiary, to supply 1.2 GW of natural gas-fire…
https://www.aol.com/articles/4-400-yoy-babcock-wilcox-145515…
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web search NEUTRAL — • Continuing Operations Backlog of $2.8 billion, including the $2.4 billion data center project. • Significantly reduced debt on balance sheet, resulting in net debt of $119.7 million.
https://www.babcock.com/home/about/corporate/news/babcock-an…
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“Babcock & Wilcox stock, which is up 244% this year alone. This $21 stock traded below $1 one year ago.”
SINGLE SOURCE
While search results confirm the stock is traded (BW) and has seen significant growth (one source mentions it 'more than tripled this year'), the specific figures of 244% and the exact price of $21 vs below $1 are not explicitly corroborated by the provided evidence snippets.
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web search NEUTRAL — View today's BWX Technologies Inc stock price and latest BWXT news and analysis. Create real-time notifications to follow any changes in the live stock price.
https://www.investing.com/equities/babcock---wilcox
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web search NEUTRAL — View live Babcock & Wilcox Enterprises, Inc. chart to track its stock's price action. Find market predictions, BW financials and market news.
https://www.tradingview.com/symbols/NYSE-BW/
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web search NEUTRAL — Babcock & Wilcox Q1 earnings. Babcock's sales leapt 44% higher year over year.But for those charges, Babcock says it would have ended the quarter with a small positive profit for its "adjusted" net in…
https://www.fool.com/investing/2026/05/11/babcock-wilcox-sto…
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“The dirty fuel — at least relatively if not absolutely — accounted for 50% of U.S. power in 2007 and is now down to 15-17% of the grid's energy source.”
SINGLE SOURCE
The provided evidence discusses coal in China, nuclear energy in the US, and global coal growth, but does not provide the specific US percentage for 2007 or the current 15-17% figure.
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web search NEUTRAL — In 2025, coal accounted for approximately 54.6% of China's electricity generation, with wind, solar, hydro, and nuclear contributing most of the remainder.
https://en.wikipedia.org/wiki/Coal_in_China
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web search NEUTRAL — Nuclear energy accounted for about 18%—of U.S. utility-scale electricity generation in 2025. Nuclear power plants use steam turbines to produce electricity from nuclear fission. Renewable energy provi…
https://www.eia.gov/energyexplained/electricity/electricity-…
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web search NEUTRAL — Coal accounted for half the growth in global power generation last year, and further increases are likely this year as European nations restart mothballed coal-fired power stations.
https://www.aspistrategist.org.au/the-worlds-appetite-for-co…
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“Even though it is down 40% from 2010, it still powers 173-190 gigawatts (GW).”
SINGLE SOURCE
The evidence mentions 190 gigawatts in the context of wind and solar in Germany, not coal power in the US. No evidence supports the 173-190 GW claim for coal.
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web search NEUTRAL — Global coal-fired power capacity edged down for the first time on record in the first half of 2020 as retirements accelerated and the coronavirus saw new projects put on hold.The country’s coal use is…
https://energy.economictimes.indiatimes.com/news/coal/global…
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web search NEUTRAL — 190 gigawatts of wind and solar produces almost nothing during an extended dark, windless winter. Grids need power sources that can be switched on when weather does not cooperate.
https://microgridmedia.com/germany-fired-up-coal-plants-it-s…
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web search NEUTRAL — Coal fell to 131.75 USD/T on May 8, 2026, down 0.34% from the previous day. Over the past month, Coal's price has fallen 2.77%, but it is still 33.22% higher than a year ago, according to trading on a…
https://tradingeconomics.com/commodity/coal
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“Last Friday, B & W placed an offering of 10.8 million shares at $18.50”
CORROBORATED
Three independent sources confirm the public offering of approximately 10.8 million shares at a price of $18.50.
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web search NEUTRAL — Babcock & Wilcox Enterprises (BW) shares fell nearly -9% premarket on Friday as the company priced a public offering of 10.8M shares at $18.50 to raise approximately $200M. Share closed at $21.22 on T…
https://seekingalpha.com/news/4593623-babcock-wilcox-falls-a…
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web search NEUTRAL — Shares of Babcock & Wilcox Enterprises declined after the company priced its underwritten public offering. The stock fell 8.7% to $19.37 in early trading Friday. Through Thursday's market close, share…
https://www.marketwatch.com/story/babcock-wilcox-enterprises…
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web search NEUTRAL — Babcock & Wilcox Enterprises Announces Proposed Public Offering of Common Stock.Release Summary. B&W announced that it priced an underwritten public offering of 10,810,811 shares of its common stock a…
https://www.businesswire.com/news/home/20260515410605/en/Bab…
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“B. Riley, a brokerage house under investigation by the Securities and Exchange Commission.”
SINGLE SOURCE
The evidence provided discusses the SEC in general and B. Riley's financial position, but does not explicitly state that B. Riley is currently under investigation by the SEC.
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web search NEUTRAL — In 2019, the Securities and Exchange Commission Historical Society introduced an online gallery to illustrate changes in the US securities market structure since the 1930s.
https://en.wikipedia.org/wiki/United_States_Securities_and_E…
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web search NEUTRAL — At least as of September 30, B. Riley ran with a cash position of $254.348M and $1.198B in securities and other investments priced at fair value. Including securities borrowed and loans receivable of …
https://pro.thestreet.com/trade-ideas/b-riley-a-short-story-…
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web search NEUTRAL — SEC homepage U.S. Securities and Exchange Commission.The Securities Exchange Act also governs the disclosure in materials used to solicit shareholders' votes in annual or special meetings held for the…
https://www.sec.gov/rules-regulations/statutes-regulations
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“Wes Cummings, CEO of Applied Digital, also served as the president of B. Riley Asset Management until February 2024.”
SINGLE SOURCE
Evidence confirms Wes Cummings is the CEO of Applied Digital, but the specific detail regarding his role as president of B. Riley Asset Management until February 2024 is not found in the provided search results.
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web search NEUTRAL — Applied Digital and two of its executives, Wesley Cummings and David Rench, have been the subject of a securities class action lawsuit, filed in the United States District Court for the District of No…
https://investorlawyers.org/investigation/applied-digital-cl…
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web search NEUTRAL — Applied Digital CEO Wes Cummins on plans for cloud business spin-off.About Leadership Careers Contact Applied Digital CARES.
https://www.applieddigital.com/insights/applied-digital-ceo-…
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web search NEUTRAL — Applied Digital scheduled its fiscal fourth-quarter financial results and conference call for July 24 on Thursday. Benzinga reached out to Applied Digital for comment and the company provided the foll…
https://www.tradingview.com/news/benzinga:717f10b57094b:0-wh…
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“B. Riley holds a substantial stake in B & W”
CORROBORATED
Multiple sources confirm B. Riley holds a substantial stake, with one source stating they are the largest institutional shareholder holding 29.75% to 29.77% of BW shares.
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web search NEUTRAL — Bryant R. Riley, a 10% owner of Babcock & Wilcox, sold 1,155,382 shares at $9 each to repay debt, while affiliated entities continue to report large indirect holdings.
https://www.stocktitan.net/sec-filings/BW/form-4-babcock-wil…
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web search NEUTRAL — Babcock & Wilcox Enterprises is owned by 29.11% institutional investors, 5.90% insiders, and 64.99% retail investors. B. riley financial is the largest institutional shareholder, holding 29.75% of BW …
https://www.tickergate.com/stocks/bw/ownership
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web search NEUTRAL — As of 2024-06-30, B. Riley Financial, Inc. held 27.45 Mil shares of Babcock & Wilcox Enterprises Inc (BW), totaling $39.80 Mil. This investment constitutes 32.35% of their stock portfolio, and B. Rile…
https://www.gurufocus.com/guru-portfolio/B.+Riley+Financial,…
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“Applied Digital was worth $1.5 billion a year ago. It is now worth $12 billion.”
INSUFFICIENT EVIDENCE
No evidence was provided for the valuation of Applied Digital from a year ago or its current valuation.
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“32% of Applied Digital's outstanding shares are sold short.”
INSUFFICIENT EVIDENCE
No evidence was provided regarding the short interest percentage of Applied Digital's shares.
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“Applied Digital has a relationship with CoreWeave , which accounts for the bulk of Applied Digital's $16 billion backlog.”
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“GE Vernova... is the principal builder of natural gas-fired plants.”
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“A year ago, he signed an executive order called "Reinvigorating America's Beautiful Clean Coal Industry." For one moment, forget the Orwellian nature of the order, No. 14241”
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“They are also integral to providing back-up power to the 26% of our grid that is powered by renewables.”
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“Energy Secretary Chris Wright... has used his emergency power to stop the closure of coal plants in Michigan, Indiana, Colorado, and Washington.”
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“the National Coal Council, a federal advisory committee that is headed by Jim Grech, who also happens to be the CEO of Peabody Energy”
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“The National Coal Council, which had been abolished under President Joe Biden”
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“Core Natural has an export terminal in Baltimore”
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“Peabody... is down 20% for the year and is very cheap, seven times next year's earnings.”
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“Core Natural has been relatively flat and trades at 11 times next year's earnings.”
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“Alliance is up 8% for the year, but has a dividend yield of 9.5%.”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.