Shares of power producers rose amid deal activity.
Investment firm Blackstone moved to expand its flourishing infrastructure business with a deal to buy energy holding company TXNM Energy for nearly $5.7 billion in cash.
"[With] higher demand, in part due to artificial intelligence, due to cryptocurrency, due to electric vehicles, due to data-center storage, we're going to see more and more major investment companies voting with their pocketbooks as they buy into this space," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
Tax credits for clean-electricity generation and manufacturing are set to vanish under a plan proposed last week by congressional Republicans.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 19, 2025 17:06 ET (21:06 GMT)
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