The timing is no accident. The AI boom has created an enormous and fast-growing appetite for electricity, turning energy infrastructure into one of the most compelling investment narratives of the decade. Companies like Fervo and X-energy were already betting on rising power demand before AI made it a mainstream story, and their technological maturity happened to coincide perfectly with the moment the narrative went mainstream. Investors had flagged nuclear fission and enhanced geothermal as the climate tech categories most likely to access public markets — and this week proved them right. For climate tech investors who have had capital locked up through a prolonged IPO drought, the listings also provide a long-awaited path to returning money to their LPs.