Entergy (ETR.US) Stock Hits Record High as Company Benefits from Surging Power Demand

Stock News
Oct 07

Entergy (ETR.US), a power generation and distribution company, closed up 2.2% on Monday and reached an intraday record high of $98.58. The surge came following reports that the company will provide electricity for Google's (GOOGL.US) planned $4 billion technology project in Arkansas.

Entergy CEO Phillip May stated that multiple technology companies are seeking to establish large data centers in northern Louisiana after Meta Platforms (META.US) announced plans to build its largest AI-dedicated facility in the region. According to May, the company has received demand inquiries ranging from over 100 megawatts to gigawatt-scale projects.

Due to abundant land availability, government officials' willingness to expedite deal approvals, and lower hurricane risks compared to the Gulf Coast, Entergy is in discussions with "a considerable number of other hyperscale enterprises" regarding partnerships in northern Louisiana.

May expressed confidence that Entergy can meet the power needs of any interested hyperscale company, including Meta. Meta has previously announced plans to expand its Richland Parish facility from 2 gigawatts to 5 gigawatts.

"As I always say, 'Use all the power you want, we'll keep it flowing,'" the CEO stated.

Entergy executives revealed during their latest earnings call that the company has a pipeline of 5-10 gigawatts worth of data center projects within its service territory.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10