Japan Pledges to Invest $36 Billion in U.S. Oil, Gas, and Mineral Projects. Here Are 2 Stocks That Could Soar as a Result.

People can argue over where the artificial intelligence (AI) trend is headed, but there's no denying it's currently driving a surge in electricity demand and reshaping the nation's energy grid.

We're seeing some of those effects through a pledge from Japan, which plans to invest roughly $36 billion in the U.S. in the opening phase of a broader $550 billion deal.

That $36 billion is going to be spread among three projects, but the bulk of it is expected to go toward a proposed natural gas-fueled power plant in Ohio.

Image source: Getty Images.

As electricity demand from data centers puts more strain on current infrastructure, and with usage only expected to increase, consumers are worried about their electricity bills rising. The 9.2 gigawatt Ohio power plant would be capable of supplying enough electricity to meet the needs of millions of homes.

Details are still thin on suppliers and the development timeline, but a project of this size will presumably need some major partners to provide a massive supply of fuel and infrastructure support.

Among the potential companies that could be involved, two stand out as worth a closer look for investors.

1. EQT

EQT (NYSE: EQT) is a vertically integrated natural gas provider, with operations in exploration, drilling, and production throughout Pennsylvania, West Virginia, and Ohio.

While there's no guarantee EQT will be involved in the Ohio project, it's a company that could be involved thanks to its location and supply capabilities.

For location, with 150,000 net acres of leased or owned land in eastern Ohio, it is already operational in the state. It's also building the infrastructure needed to bring more natural gas to Ohio.

As for supply, the Ohio facility will require significant, consistent fuel deliveries. EQT is already the second-largest natural gas provider in the U.S. by volume, and CEO Toby Rice believes his company can further scale production capacity if demand is there.

EQT has had a stellar run over the last five years, with shares climbing nearly 234%. Trading at a forward price-to-earnings (P/E) ratio of 13.5, it is priced for steady growth ahead.

2. Hitachi

There's also no guarantee that Japanese conglomerate Hitachi (OTC: HTHIY) will be involved in this project. What we do know is that it has made its interest in being involved in projects of this type known, and it already is working on U.S. projects. In September 2025, it announced a $1 billion investment through a wholly owned subsidiary, Hitachi Energy, to expand production of electrical grid infrastructure components in the U.S.

Hitachi Energy manufactures advanced high-voltage switchgear solutions for reliable, safe power transmission. Its general circuit breakers protect power transformers and generators. It also produces grid control and monitoring systems.

In short, Hitachi Energy's offerings are consistent with what the Ohio natural gas facility will need.

Because Hitachi is a conglomerate, its investment thesis is complex and nuanced. It currently trades at a forward P/E of 24.5, which is rich compared to the average industrial or energy company, but cheaper than is common among technology companies.

Priced like a hybrid operation, Hitachi may appeal to investors who want a stock with type of stability that infrastructure operations offer, but also exposure to some of the upside potential of the AI megatrend.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends EQT. The Motley Fool recommends Hitachi. The Motley Fool has a disclosure policy.