Enterprise DNA

Vistra

Owns large gas and nuclear power plants and sells the electricity under long contracts.

Revenue
Ongoing operations adjusted EBITDA of $1.77B in Q2 2026 (quarter to 30 June 2026)
Growth
Adjusted EBITDA up more than 30% on Q2 2025 (Q2 2026)
Based in
Irving, US
Listed
Public (VST)
Why it is winning

It owns a lot of firm power that data centres can contract for, and it is buying more gas plants.

The risk to watch

Q2 2026 revenue came in below analyst forecasts in one report, and the figure needs checking against the filing.

Money coming in

Who pays Vistra, and for what.

No customers of Vistra mapped yet.

Money going out

Who Vistra pays to do what it does.

No suppliers of Vistra mapped yet.

Where it sits on the map

Competitors and neighbours

Bloom Energy
BE Supplier

Makes fuel cells that give a data centre its own power without waiting for the grid.

Revenue of $1.065B in Q2 2026 (quarter to 30 June 2026)

Open profile
Oklo
OKLO

Develops small modular nuclear reactors aimed at selling power to data centres.

Q2 2026 revenue of $1.2M, mostly from recent acquisitions

Open profile
GE Vernova
GEV Supplier

Makes gas turbines and grid equipment that power new data centres and utilities.

$176B order backlog. Data centre orders over $5B in the first half of 2026

Open profile
Siemens Energy
ENR Supplier

Makes gas turbines, grid equipment and transformers that power data centres and utilities.

Q3 FY2026 revenue of about EUR 11.4B (quarter to 30 June 2026)

Open profile
Caterpillar
CAT Supplier

Makes large generator sets and turbines that run data centres when the grid is not enough.

Record sales of $20.5B in Q2 2026 (quarter to 30 June 2026)

Open profile
Constellation Energy
CEG

The largest US nuclear operator, selling carbon-free power under long contracts.

Revenue of $7.5B in Q2 2026 (quarter to 30 June 2026)

Open profile
NuScale Power
SMR

Designs small modular nuclear reactors, with a partner pursuing a large plan with the US Tennessee Valley Authority.

Q2 2026 revenue of about $0.1M (reported)

Open profile
Talen Energy
TLN

Owns nuclear and gas power plants and sells power to large buyers, including data centres.

Adjusted EBITDA of $374M in Q2 2026 (quarter to 30 June 2026)

Open profile
Venture Global
VG Supplier

Exports US natural gas and is building power plants at its terminals to sell electricity to data centres.

Plan could power up to 10 GW of computing (WSJ, Oct 2026)

Open profile

Sources: finviz.com, finviz.com

The map updates three times a week.

241 companies across 25 areas, 62 money flows and 89 openings so far. New research lands every Tuesday, Thursday and Saturday.

Back to the full map

Free daily email

Get the map updates in your inbox

A short read every morning on what is moving in AI, including new areas of the map as they go live. Free.

One email a day. Unsubscribe any time.