Power, Storage and Networking: 3 Ways I’m Looking at the AI Boom

When most investors think about artificial intelligence, they immediately think about semiconductor companies.

But AI needs more than chips.

It also needs power, data storage, and high-speed networking.

That’s why I’m watching three companies that give us different ways to potentially participate in the AI infrastructure buildout: Constellation Energy, NetApp, and Ciena.

Constellation Energy is one of the largest electricity producers in the U.S. and a major nuclear power producer.

That matters because AI data centers need enormous amounts of reliable electricity.

The company also has a long-term agreement with Google tied to supplying nuclear power for AI infrastructure, which reinforces the bigger theme: AI’s power demand isn’t going away anytime soon.

Technically, the stock had built support around the $250 area, with resistance higher near $325.

For the trade, I discussed a November 20, 2026 bull put spread:

• Buy the $240 put

• Sell the $250 put

• Approximate net credit: $1.50

• About 43 days until expiration

What I like about the setup is the cushion. The stock doesn’t have to make a huge move higher for the trade to potentially work.

NetApp has been helping companies store, protect, and manage large amounts of data for decades.

As AI creates and processes more information, that data still has to be stored somewhere.

Technically, NetApp had been in a strong uptrend, with the 20-day moving average repeatedly acting as support.

Rather than chase the stock while it was extended, I looked at selling the November 20, 2026 $220 put.

The premium was approximately $8.50 when I checked it.

If the stock stays above $220, I collect the premium.

If it pulls back and I’m assigned the shares, I’d potentially be buying the stock around an area I already liked technically, while the premium lowers my effective entry price.

That’s the kind of setup I like: getting paid while waiting for a price where I’d be comfortable owning the stock.

Ciena gives us another way to think about AI infrastructure.

If semiconductor companies are building the engines behind AI, Ciena helps build the highways that move all of that information.

AI data centers need fast networks capable of moving huge amounts of data between systems.

The stock had recently pulled back, but it reclaimed its 200-day moving average, which helped create a more interesting technical setup.

For Ciena, I discussed another bull put spread using the November 20, 2026 expiration:

• Buy the $340 put

• Sell the $350 put

• Approximate net credit: $2.00

• Approximate potential return discussed: 20%

The short strike sat below important moving averages and near an area where the stock had been building support.

That gives the trade room to work without requiring the stock to immediately move higher.

The biggest takeaway is that the AI trade is much bigger than semiconductors.

AI also needs:

Power. Storage. Networking.

That doesn’t mean every company connected to AI is automatically a good investment.

The business still matters.

The chart still matters.

And the trade structure still matters.

I want to find companies connected to a strong long-term theme, then use the technical setup and options strategy to determine how I want to participate.

The stock idea comes first. The strategy comes second.