Short-term struggles due to weather and politics, but viewed as an inevitable beneficiary of data centers moving to Alberta.

Identified as a laggard trade based on data centers moving to Alberta, Canada.

Beneficiary of data center energy demand as a safe, energy-rich alternative to Middle East locations.

Facing headwinds from government regulations and unfavorable weather conditions impacting data center energy demand.

Presented as a contrarian opportunity; the stock has been hit by short-term negative news (warm winter, CEO transition), but the hosts believe the fundamental, long-term AI-related thesis remains valid, prompting a 'double down' on the position.

Investment thesis is based on Canada, specifically Alberta, having excess energy to power new data centers, making TAC a key local beneficiary of future deals.

Presented as the number one 'undiscovered AI trade' due to its ability to quickly bring shuttered power plants in Alberta, Canada back online to meet the energy needs of new AI data centers. A major deal is believed to be imminent.