Money Is Raining Down on Green-Tech Firms That Have an AI Story
Long-unloved nuclear and geothermal are experiencing a boom in interest as data center developers seek carbon-free resources capable of delivering round-the-clock electricity to power artificial intelligence.
An Amazon Web Services data center in Manassas, Virginia.
Photographer: Nathan Howard/BloombergGreen firms in the US have found something of a lifeline in artificial intelligence after being bogged down by high interest rates, shrinking funding and, more recently, President Donald Trump’s sharp rollback of support.
Clean technology companies that have inked deals to support data centers have seen their stocks soar this year, outperforming the S&P 500. Nuclear power startup Oklo Inc.’s shares are up nearly 275% year-to-date while the stock price of fuel cell provider Bloom Energy Corp. has risen 66%. Energy storage and clean power snagged the most public and private investment among climate tech sectors last quarter, according to BloombergNEF.