Is Plug Power Stock a Buy Right Now?
Rising demand for artificial intelligence (AI) could create favorable conditions for many hydrogen stocks, Plug Power (NASDAQ: PLUG) included. Companies that operate AI infrastructure like Amazon and are racing to build new data centers that are powered by renewable energy. The main challenge isn't in building new data centers, but in scaling up the required amount of renewable energy.
This is where hydrogen fuel comes into play. hydrogen fuel has long been a promising power source for the renewable economy. But high costs have prevented the technology from being adopted at mass scale. The massive buildout of infrastructure to enable the AI revolution could change all of that. Does that make Plug Power stock a buy? You might be surprised by the answer.
The world's energy systems are about to be transformed thanks to a huge surge in demand for AI technologies, a surge that is expected to be sustained for decades to come. Energy use by data centers -- critical infrastructure that is largely powering the AI revolution -- has historically grown by 12% or more annually. The sharp uptake in AI demand more recently should see that growth rate rise even higher.
Source Fool.com
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