Ghazal Ahmed
1 min read
In This Article:
Meta Platforms, Inc. (NASDAQ:META) is one of the 10 AI Stocks Investors are Watching. On June 26, Meta Platforms and renewable energy developer Invenergy reported having signed four deals to supply 791 megawatts (MW) more of solar and wind power to operate data centers.
The deal marks Meta’s latest move to meet the rising power demand of its data centers required for artificial intelligence technologies through clean energy.
Last year, Meta announced procuring 1,000 MW of total energy from Invenergy. Together, the projects will bring the companies’ partnership to a total of 1,800 MW.
Solar panels in an agricultural field, highlighting the company's commitment to renewable energy.
According to Invenergy, the electricity from its solar and wind projects in Ohio, Arkansas, and Texas will be delivered to the local grid. Meanwhile, Meta will receive the clean energy credits related to the new generation capacity coming online.
“We’re laser-focused on advancing our AI ambitions—and to do that, we need clean, reliable energy. We’re grateful for Invenergy’s longtime partnership that helps us support our energy needs and implement our clean energy goals, and look forward to continued collaboration.” -Urvi Parekh, Meta’s Head of Global Energy.
Meta Platforms, Inc. (NASDAQ:META) is a global technology company.
While we acknowledge the potential of META as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 AI Stocks in the Spotlight and 10 AI Stocks Investors are Watching.
Disclosure: None.
