BUZZ-Clean energy stocks rise on broadening AI rally

Reuters
Sep 23
BUZZ-Clean energy stocks rise on broadening AI rally

** Shares of clean energy companies rally on signs of AI surge on Wall Street broadening

** Hydrogen fuel cell maker Plug Power PLUG.O up 18.9% at $3.1, renewable energy storage provider Fluence Energy FLNC.O gains 3.2% to $10.9

** U.S.-listed shares of Ballard Power Systems BLDP.TO, BLDP.O up 9.5% to $3.2, Fuelcell energy FCEL.O up 1.5% at $9.8

** Other clean energy stocks such as First Solar FSLR.O and Sunrun RUN.O rise 1.5% each

** Utilities companies have benefited as megacaps and AI leaders including Microsoft MSFT.O, Alphabet GOOGL.O and Meta META.O look for reliable sources of energy to power their data centres

** The market is capitalizing on the AI boom, which needs power to run data centres and computing, says Robert Pavlik, senior portfolio manager at Dakota Wealth

** It's like selling the picks and shovels during a gold rush, Pavlik adds

** Fluence Energy and Ballard Power Systems have gained about 50% each this month

** On a monthly basis, Plug Power has jumped 95%, while Fuelcell's shares have more than doubled in value

(Reporting by Amir Orusov and Johann M Cherian)

((Amir.orusov@thomsonreuters.com))

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