As data centers strain the grid, these companies are betting big on AI's energy edge.

Nvidia's ( NVDA -0.82% ) $100 billion agreement with OpenAI underscores a critical shift in artificial intelligence (AI) : the limiting factor is no longer chips, but power. Each gigawatt of computing capacity draws on the scale of a nuclear reactor, making electricity the new bottleneck in AI growth. That dynamic puts fresh attention on companies working to build, supply, and optimize the infrastructure behind these energy-hungry systems.

Here is an overview of three companies tackling different edges of the looming AI energy problem .

The pivot play

Iren Ltd. ( IREN 12.80% ) has transformed its roots as a Bitcoin miner into a broader play on high-performance computing. The comp

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