10 AI News and Ratings Making Waves Around Wall Street

6. SES AI Corporation (NYSE:SES)

Number of Hedge Fund Holders: 14

SES AI Corporation (NYSE:SES) Corporation develops and produces high-performance lithium-metal rechargeable batteries for electric vehicles and other applications.

On January 29, SES AI (NYSE:SES) signed a non-binding MOU with AISPEX, a Texas-based Retail Energy Provider, to provide AI-enhanced battery energy storage solutions (BESS). The partnership aims for a potential purchase pipeline of up to $45 million and 100 MWh, with an initial 30 MWh project planned for 2025 at a crypto mining site in Texas. SES AI will supply its AI for Safety Battery Management System to monitor battery health and safety. The collaboration seeks to address growing energy storage needs, particularly in the crypto mining and data center sectors, which SES AI views as a significantly larger market than electric vehicles.