Nvidia, Google and Emerald AI Form Alliance for Power-Flexible AI Data Center

Kasikorn Securities, or KS, said in a research note that ESG is entering an era in which it genuinely affects financial outcomes, and unveiled 10 stocks set to benefit from the ESG transition. The Stock Exchange of Thailand is preparing to move from SET ESG Ratings to the FTSE Russell ESG Scores framework, with listed companies due to learn their own scores in 2026 and public disclosure beginning in 2027. Preliminary statistics from the 2025 FTSE Russell ESG Scores assessment show that 222 Thai listed companies averaged 3.6 out of 5, placing them at a Good practice level, with the utilities, healthcare, and oil and gas sectors scoring most strongly. KS said ESG development is reaching a regulatory level that will affect profits and ROIC through a carbon pricing mechanism with a pilot price of 200 baht per tonne of carbon equivalent, a planned emissions trading system trial in 2029-2030, the EU CBAM measure, and the IFRS S1/S2 standards and Thailand Taxonomy. A study of SET100 stocks found that high ESG-rated shares do not always trade at more expensive PER or PBV multiples or post higher EPS growth, but that good ESG enhances investability through liquidity and the shareholding of foreign and institutional investors. The case of DELTA, which was removed from the SETESG index, reflects how money from ESG-linked funds affects short-term price volatility. The 10 standout stocks span five themes: renewable energy business expansion, GULF, BCPG and CKP; green industrial infrastructure, WHA and AMATA; ESG data services and carbon management, DITTO and BBIK; sustainable finance, BAY and TTB; and the circular economy, SCGP.

Danucha Pichayanan, Secretary-General of the National Economic and Social Development Council, in his capacity as a board member and secretary of the committee on policy for the operation of data centre businesses, disclosed that the criteria governing the data centre business are expected to be finalised and begin actual enforcement no later than mid-October, after various agencies submitted their data, covering current service providers, criteria for classifying data centre sizes, and average electricity and water usage. On the electricity criteria, the Ministry of Energy will have to set criteria controlling consumption volumes, with electricity rates to apply specifically to the data centre business group. As for the criteria governing each category of size, operators that meet the industrial-type criteria must be located in designated industrial estate areas, and this must not affect the household sector. He also expressed the view that hyperscale data centres should be set at an electricity usage level of 100 megawatts or more. The clarity of the actual criteria must await the board's consideration. On the timeline, after the deadline, a conclusion is to be reached within one month from the first meeting on 4 September, after which the process of drafting a policy specifically for data centres will begin, and a mechanism must be considered to prevent operations from becoming fragmented. As for which agency will be the host, that must await a further conclusion.

Quanta Services, Inc. appointed Ellen Rubin, an AI and cloud infrastructure veteran and current Operating Partner at Glasswing Ventures, to its Board of Directors earlier this month. Rubin brings experience from Amazon Web Services, multiple enterprise software start-ups, and Allegion's boardroom, and her background in AI, hybrid cloud, and security could help Quanta align its power infrastructure and utility solutions more closely with the technical needs of data centers and other AI-related customers. The appointment comes alongside Quanta's raised 2026 outlook, which now calls for US$39.3 billion to US$39.7 billion in revenue and US$1.74 billion to US$1.82 billion in net income, backed by a US$53 billion backlog and acquisition-driven expansion in power infrastructure. The company's narrative projects US$46.7 billion in revenue and US$2.4 billion in earnings by 2029, while some of the most optimistic analysts were already modeling revenue above US$60 billion and earnings above US$3 billion by 2029. Rubin's appointment adds AI and cloud depth on the board, but it does not materially change the near-term catalyst around converting record backlog into earnings or the key risk of integrating acquisitions at scale.