We recently published a list of 12 trending AI stocks with latest news and ratings. In this article, we’ll take a look at where Hewlett Packard Enterprise Company (NYSE:HPE) stands compared to other trending AI stocks based on the latest news and ratings.
Demand for energy-intensive AI data centers exceeds supply, and while solutions such as cryptocurrency site conversion and nuclear power generation are promising, substantive measures are needed to prevent major power shortages in the near future. .
In an interview on CNBC’s “The Exchange,” Morgan Stanley’s Stephen Byrd talked about the possibility of converting crypto mining sites into data centers to address power shortages in AI data centers. He noted that while Bitcoin mining companies have advantageous options, such as turning their sites into data centers, the high price of Bitcoin complicates decision-making.
Byrd estimates there will be a significant power deficit of more than 30 gigawatts by 2028, with partial relief possible through solutions such as Bloom Energy’s fuel cells and crypto site conversion. But he cautions that connecting new data centers to the grid could take years, could drive up power prices, and pose potential political challenges. Other solutions include nuclear power and natural gas turbines, especially in areas like West Texas.
Related Article: Top 15 AI Stocks News and Ratings that Dominate Wall Street and Jim Cramer discusses 18 companies that will reach $100 billion market cap in 2024.
A major U.S. oil company is considering entering the electricity market by supplying natural gas-powered electricity with carbon capture technology to meet the growing energy demands of AI data centers. Chevron has been in talks for more than a year to offer natural gas-fired power generation combined with carbon capture solutions, and Exxon plans to provide low-carbon power for data centers by the end of 2010, according to Reuters. .
The move comes as the rise of AI technology is significantly increasing electricity demand and increasing the need for new energy infrastructure. The companies plan to leverage their expertise in natural gas and carbon capture to meet this demand and potentially reshape the electricity market.
In this article, we selected AI stocks based on news articles, stock analysis, and press releases. Stocks ranked by hedge fund sentiment from Insider Monkey’s database of 900 hedge funds.
Why are we interested in stocks that hedge funds invest in? The reason is simple. Our research shows that by mimicking the top stock picks of the best hedge funds, you can outperform the market. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, outperforming the benchmark by 150 percentage points (Learn more ).
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