Extended Texas Freeze

28%its chance, of the story’s futures

−0.5%on the S&P 500, if it happens

The audit finds that large AI loads create unresolved reliability risks for ERCOT, especially during peak summer and winter stress events. Texas keeps permitting constraints in place, forcing Anthropic to delay the campus and making lenders reassess other power-intensive projects in the state.

What it moves

Technology−1.0%
Utilities−0.4%
Finance−0.4%
Energy+0.2%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

Keeping an eye on this scenario?