Clean energy stocks are on the rise, with First Solar hitting a 52-week high amidst growing enthusiasm over AI technology. The surge in clean energy stocks is driven by the potential demand for renewables as tech companies expand their data centers while aiming to reduce carbon emissions.
The Invesco Solar ETF saw a nearly 10% increase, while the iShares Global Clean Energy ETF was up about 4% in afternoon trading. Analysts attribute this rally to a shift from traditional energy sources to renewables, fueled by the growth in power demand from data centers and AI technology.
First Solar, in particular, surged nearly 19% to reach a 52-week high of $251.59. Analysts are optimistic about the company’s role in supplying renewable energy to data centers, especially with the U.S. imposing tariffs on China. Other solar stocks also saw gains, with SunPower leading the residential sector with a 19.8% jump.
Overall, the clean energy sector is experiencing a significant uptrend, driven by the intersection of technology, data centers, and the push for sustainability. Investors are closely watching these developments as the market continues to evolve.
