Data centers & energy
FirstEnergy
Business, financial evidence and documented connections to the AI buildout.
Business and AI exposure
FirstEnergy’s utilities provide electricity and grid infrastructure. Meta identifies Toledo Edison in energy planning for its Bowling Green campus, giving FirstEnergy a subsidiary utility connection rather than ownership of Meta’s servers.
Earnings and disclosures
Latest verified results: Q2 2026 · Released 2026-07-28
Next results: 2026-10-27 · Q3 2026.
Results are scheduled for October 27 after market close; the conference call is October 28.
Checked 2026-10-18 · Financial context and sources ↓
Financial context
In Q2 2026 materials, FirstEnergy reported 6.4 GW of contracted data-center demand and 30% growth in its demand pipeline from Q1. Of its $6 billion 2026 capital plan, $2.9 billion had been deployed in the first half. These figures do not measure current AI-only revenue.
www.sec.gov ↗ · investors.firstenergycorp.com · 2026-07-28 ↗
Delivery and commitments
Meta announced a 715,000-square-foot campus and investment above $800 million. Those owner plans are not a metered utility load or a FirstEnergy order value. The separate proposed Maidsville generation project serves broader demand, not AI exclusively.
Costs, funding and dependencies
Permits, resource adequacy, grid construction, actual customer load and cost recovery determine utility economics. Contracted demand can differ from eventual delivered demand; the company did not isolate Bowling Green’s earnings contribution.
www.sec.gov ↗ · investors.firstenergycorp.com · 2026-07-28 ↗
What to watch next
Track phase-specific service commitments and energized customer load. Maidsville’s potential late-2031 operation is a separate generation timetable and should not be substituted for a Bowling Green opening date.
Documented project connections
Each connection below has a specific, cited role. A supplier, lender, customer or proposed acquirer has different economics from the project owner.
Meta Bowling Green
Utility parent exposure through Toledo Edison, which Meta names in its energy planning.
The utility role does not establish campus ownership, accepted AI load or project-level earnings.
Evidence boundaries
Company totals, segment sales, bookings, backlog, spending, capacity and usage describe different things. They do not establish project-level revenue, earnings or an exact AI-only revenue share unless the cited disclosure explicitly says so.
This is a dated research snapshot. Forecasts are attributed expectations, and undisclosed amounts remain unknown. Source review does not certify every project or future outcome.