AI demand continues to be a major market mover so far in 2024.

Last week the chip sector saw another rally after cloud company Oracle’s latest earnings beat. But that wasn’t the only development.

Oracle CEO Larry Ellison revealed plans for building a megawatt data center that will be used to train AI models.

These data centers will need over one gigawatt of electricity, which is a lot.

It’s why I’m paying attention to the energy sector for a potential buy in The War Room this week.

The ticker I’m looking is The Energy Select Sector Fund (XLE).

XLE is a great way to get exposure to multiple energy companies without spending a ton of money on individual energy stocks.

With this energy ETF, you’re getting portfolio exposure to 22 underlying stocks.

These companies primarily develop and produce crude oil and natural gas. Including ExxonMobil, Chevron, Schlumberger, EOG Resources and ConocoPhillips.