Texas Utility Stock Powers Past Nvidia in 300% AI-Fueled Rally
- The stock is the S&P 500’s best performer in the past year
- Independent status, asset mix set the power producer apart
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The demand to feed the engines of artificial intelligence has helped vault shares of one of the largest US power producers, Vistra Corp., higher even than Wall Street darling Nvidia Corp.
Investors, including Daniel Loeb, the billionaire founder of Third Point LLC, have been snapping up Vistra stock in a bet that the massive boom in demand — partly fueled by power-sucking AI data centers — will only grow. That’s spurred shares to a more than 300% gain over the past 12 months, making the Texas-based firm the best performer in the S&P 500 Index — a benchmark it joined less than a month ago. Peers trailed, with utility stocks in the index returning about 10% over the same period.