Power equipment
Power equipment includes generators, engines, boilers, turbines, and integrated systems used to serve new load. It is a picks-and-shovels segment for electrification and AI power demand.
This segment covers real-economy businesses where orders, capacity, commodity prices, and capital spending cycles matter. Reported holdings can look old-economy on the surface while still expressing a view on electrification, reshoring, infrastructure, defense, or AI-related power demand.
The useful split is between volume cycle, pricing power, asset scarcity, and equipment replacement. A fund adding to the tag may be making a macro call, a bottleneck call, or a company-specific operating leverage call.
- Backup and prime generators
- Gas turbines and engines
- Boilers and thermal systems
- Service, parts, and controls
- Order backlog and delivery lead times
- Data center customer mix
- Margin on equipment versus service
- Regulatory treatment of backup generation
Situational Awareness LP
Leopold Aschenbrenner · Q4 2025 filed 2026-02-11
Generators, boilers, engines, and power-system equipment that support new AI power demand.
| Ticker | Name | Value | Instrument |
|---|---|---|---|
| PSIX | POWER SOLUTIONS INTERNATIONA | $25M | SH |
| BW | BABCOCK & WILCOX ENTERPR | $9M | SH |
| Ticker | Action | Value |
|---|---|---|
| PSIX | New | +$25M |
| BW | New | +$9M |