MADISON, Wis. — New reporting from the Milwaukee Courier reveals a potential explanation as to why Bryan Steil has been pushing data center development—he owns tens of thousands of dollars in stock in companies that power them. The reporting also describes how Steil has remained in lockstep with Donald Trump in his refusal to slow the rapid and unregulated development of AI.

The Milwaukee Courier:Bryan Steil Has a Financial Stake in the Data Center Boom he Supports
By: Drake Bentley | 9/14/26

One reason Congressman Bryan Steil supports AI data centers could be because he has enriched himself by owning stock of the company helping build them.

Earlier this year, Steil claimed there is a “need” for data centers in the U.S. versus China or Russia. He argued data centers would provide new jobs and opportunities. He praised developers for “getting better” about water usage. And in July, he argued data centers being built in Wisconsin is a good thing because of the tax revenue.

The latest Marquette University Law School poll in August showed 78% of respondents say the costs of data centers outweigh the benefits, and 67% are in favor of a moratorium. The issue crosses the political divide with a majority of Republicans also opposed to them.

But Steil is in line on this issue with President Donald Trump, who in recent days dismissed calls to slow AI development and claimed there’s a “conspiracy” against AI and data centers.

Another reason may be that Steil owns up to $50,000 in stock from GE Vernova, the main company powering the nation’s new data center developments with their large scale gas turbines.

“GE Vernova provides a chain of electrification solutions that support data center operators with a holistic, high quality, and reliable offering for the entire lifecycle of a data center—helping ensure uninterruptible power supply while decarbonizing the grid, improving energy efficiency, and maintaining profitability,” the company’s website states.

Companies like Microsoft, SpaceX and Open AI have purchased GE Vernova turbines for their data centers.

The stock was worth between $1,000-$15,000 when Steil acquired it in 2024, but his most recent financial disclosure shows the stock valued between $15,000-$50,000. Yahoo Finance indicated the stock grew from $140 per share when he first owned it to more than $870 per share on Sept. 14.

According to MarketBeat, GE Vernova is expected to be a key beneficiary of the data center boom.

Steil also accepted campaign donations from WEC Energy Group, the parent company of We Energies, which is powering Microsoft’s new data center in his district. Between 2018 and 2026, Steil has accepted $13,000 in contributions from the energy company.

The new data centers are also resulting in increased energy bills.

According to the Racine County Eye, WEC Energy Group “projects its regional electric demand will rise approximately 45 percent over the next five years, driven primarily by the Microsoft campus in Mount Pleasant and the Vantage data center campus in Port Washington, according to the company’s 2025 Annual Report filed with the Securities and Exchange Commission. In investor presentations this year, WEC disclosed it expects 2.6 gigawatts of new demand from Microsoft’s I-94 corridor buildout and another 1.3 gigawatts from Vantage’s Port Washington facility — 3.9 gigawatts combined. In testimony filed with the PSC, a Microsoft consultant said Fairwater is expected to become the largest single electric load ever served by Wisconsin Electric, We Energies’ subsidiary.”

We Energies customers on average saw a 12% electric rate increase in 2025 and 2026, with the utility filing for another increase in 2027.

Residents continue to speak out, with some taking Big Tech to court, but if elected officials continue to foster a friendly environment for the developers then it might be a lost cause.

Steil’s office didn’t respond to a request for comment. He is currently running for reelection against Democrat Mitchell Berman, a political newcomer.