Artificial intelligence mania has taken the tech sector by storm. However, realization of the immense electricity needs for AI data centers is emerging, boosting clean power stocks.
Solar technology and energy services provider SunPower (NASDAQ: SPWR ) saw its shares rise dramatically higher on Wednesday. Earlier, the company announced that it will add the Tesla (NASDAQ: TSLA ) Powerwall 3, a battery storage system, to its portfolio.
Renewable energy stocks have been highly shorted, and that fueled a quick recovery for the shares early in the week. Falling interest rates could also contribute to a recovery for these stocks.
The future may be brighter if SunPower stock continues to climb.