LIVE MARKETS-T1 Energy soars as solar company attracts attention from AI investors
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T1 Energy soars as solar company attracts attention from AI investors
Shares of U.S. solar company T1 Energy T1.N are soaring 33% on Wednesday, one of the latest stocks to attract attention from institutional investors looking for fresh AI plays.
Hedge fund Situational Awareness LP in a filing on Tuesday reported a $43 million stake in the T1 Energy. The fund is run by former OpenAI researcher Leopold Aschenbrenner.
T1 Energy is viewed by investors as an AI play because it has an industrial site in Norway that it is positioning as a future AI data center hub.
T1 Energy's shares dropped about 2% on Tuesday after Fuzzy Panda Research disclosed a short position in the company.
With Wednesday's rally, T1 Energy is up about 60% in the past week, and up about 35% year to date. The company has a $2.5 billion market capitalization.
Analysts on average expect it to grow its revenue 23% to $927 million in 2026, while reporting a loss of $79 million, according to LSEG data.
(Noel Randewich)
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