The Strangest AI Stock of 2026 Doesn't Make Chips. It Owns Land in Texas.
Key takeaways
- TPL ^GSPC NVDA Texas Pacific Land (NYSE: TPL) doesn't make a single chip, write a line of code, or run a data center.
- So how does a land-and-royalty company become one of the year's hottest plays on artificial intelligence (AI)?
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
TPL ^GSPC NVDA Texas Pacific Land (NYSE: TPL) doesn't make a single chip, write a line of code, or run a data center. It owns dirt -- about 880,000 acres of it, mostly spread across the Permian Basin of West Texas. And yet it has been one of the market's best-performing stocks of 2026, with shares up about 38% year to date, even after pulling back from a gain of about 91% at their late-February peak. That leaves the S&P 500's roughly 7% rise far behind.
So how does a land-and-royalty company become one of the year's hottest plays on artificial intelligence (AI)? And can the run last?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »