Investment newsletter publisher Rob Spivey is pitching two stocks through Altimetry Hidden Alpha Stocks, with some pretty ambitious marketing, “The #1 Oil Income Play of 2026” and “The Big Score: How to Profit as America Goes Nuclear.” I believe the companies are...

1. Baker Hughes (BKR) — The Oil Income Play

Baker Hughes provides equipment and technology to the oil and gas industry, including natural gas infrastructure. The investment thesis isn't just about oil prices. Growing electricity demand, particularly from AI data centers, could increase demand for natural gas turbines, compressors, and related equipment.

But there's a problem with the marketing. Baker Hughes currently yields only around 1.5%. That's hardly the kind of income most investors would expect from a supposedly exceptional oil-income opportunity. The company has legitimate growth opportunities, but the investment depends more on earnings growth and valuation than collecting substantial dividends.

2. Constellation Energy (CEG) — The Nuclear Power Play

This one is arguably more interesting. Constellation operates the largest nuclear power fleet in the United States, making it a major supplier of reliable, around-the-clock electricity. And AI data centers need enormous amounts of electricity.

Unlike solar and wind, nuclear power can provide consistent output without depending on weather conditions. That makes Constellation a potential beneficiary of the AI infrastructure boom.

But there's a catch here, too. Investors already recognize the opportunity. Nuclear-related stocks have attracted considerable attention, and Constellation's valuation has reflected expectations for future electricity demand. But the shares have declined significantly from earlier highs, potentially making the valuation more reasonable.

Here's what I find interesting about both pitches. One is marketed as an oil-income opportunity, while the other promises big gains from America's nuclear expansion, yet both ultimately depend on the same underlying investment theme...AI is going to need a tremendous amount of electricity, and somebody has to supply it.

Natural gas infrastructure and nuclear generation are two different ways to invest in that demand. But the best technology or strongest industry trend doesn't necessarily produce the best stock returns, especially when investors have already priced in years of growth.

If you were investing in AI's energy demands, would you rather own the natural gas infrastructure supplying power plants or the nuclear companies generating the electricity?