Green Stocks Are Big Winners as Tech Boom Drives Energy Demand
Wind turbines at the San Gorgonio Pass wind farm in Whitewater, California.
Photographer: Bing Guan/BloombergIt was supposed to be a glum year for green stocks as President Donald Trump pushed his Big Oil agenda. Instead, the sector is booming as artificial intelligence powers massive demand for all kinds of energy.
The S&P Global Clean Energy Transition Index has rallied 44% this year, handily beating a 16% advance in the S&P 500 Index. It’s also outpacing an 11% gain in the S&P Global Oil Index, which was expected to be a big winner on the back of Trump’s “drill, baby, drill” agenda.