Tyler Rosenlicht, Head of Natural Resource Equities at Cohen & Steers, in an interview with Bloomberg on July 31, shared his insights on the global energy landscape, emphasizing that the conversation around energy has shifted beyond just oil. While oil remains a significant driver of production and energy supply, natural gas, nuclear, and alternative energy sources are growing rapidly.
Rosenlicht noted that the growing demand for energy from data centers requires significant amounts of power to operate, however, energy consumption is also surging to satisfy the needs of technological advances, a rising middle class globally, urbanization, and traveling. Rosenlicht believes that the demand for energy will continue to grow, driven by population growth, economic expansion, and the increasing energy intensity of the global economy. He noted that his firm Cohen & Steers forecasts energy demand in 2040, taking into account factors such as population growth, economic growth, and energy intensity.
Rosenlicht expressed concerns that the assumption of increasing energy efficiency may be overstated, as new technologies may lead to higher energy usage. He emphasized that the world is in an “energy addition” phase, where new supply is needed to meet growing demand.
In terms of investment opportunities, Rosenlicht favors the U.S. natural gas sector, particularly liquefied natural gas (LNG) exports. He also favors energy companies that are pursuing emissions reductions using their existing infrastructure. On the alternative side, Rosenlicht’s company is bullish on companies building electrification assets and infrastructure, such as transmission wires and lines. Rosenlicht is also bullish on nuclear energy, which he believes will play a crucial role in meeting the demand for low-carbon energy.
Read Also: 10 Worst-Performing Industries in 2024 and 10 Most Promising Growth Stocks According to Hedge Funds.
Clean energy ETFs have also been a popular investment choice, especially between 2020 and 2022, when the industry experienced rapid growth. One major driver was the declining costs of solar and wind energy, which became increasingly competitive with fossil fuels. The Clean Energy ETFs also benefited from broader techno-optimism between 2020 and 2022. However, the interest rate hikes beginning in mid-2022 have significantly impacted the sector. For example, the iShares Global Clean Energy ETF (NASDAQ:ICLN) has declined by 20% year to date, as of November 11. The SPDR Kensho Clean Power ETF (NYSEARCA:CNRG), which invests in companies innovating and manufacturing renewable energy technology rather than generating power directly is down 13.3% year to date, as of November 11. The clean energy sector is expected to regain momentum driven by decreasing costs, technological advancements, and global carbon reduction targets, the industry has a solid long-term outlook. According to Straits Research, the clean energy market is expected to grow at a 9.47% annual growth rate from 2024 to 2032.
The alternative energy sector is set for significant growth, fueled by rising environmental awareness, favorable regulations, and advancements in technologies such as wind, solar, and hydropower. While the industry encounters challenges, including high upfront costs and technological barriers, the overall outlook remains positive. With that in context, let’s take a look at the 10 best alternative energy stocks to buy according to hedge funds.
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Our Methodology
For this article, we scanned alternative energy ETFs plus online rankings to compile an initial list of 30 alternative energy stocks. From that list, we narrowed our choices to 10 stocks according to their hedge fund sentiment, which was taken from our database of 912 elite hedge funds as of Q2 of 2024. The list is sorted in ascending order of their hedge fund sentiment, as of the second quarter.
Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
10 Best Alternative Energy Stocks To Buy According to Hedge Funds
10. Bloom Energy Corporation (NYSE:BE)
Number of Hedge Fund Holders: 29
Bloom Energy Corporation (NYSE:BE) is a leader in solid oxide fuel cell (SOFC) technology, a method that produces electricity through a chemical reaction without burning fuel. Their fuel cells can run on different energy sources such as natural gas and hydrogen and help to reduce carbon emissions while providing reliable and secure energy. Bloom Energy Corporation’s (NYSE:BE) technology is reliable and plays a vital role in the global shift towards alternative energy.
On November 7, Bloom Energy Corporation (NYSE:BE) announced that it would deliver fuel cells to the largest single site in history. An 80 MW project, developed in partnership with SK Eternix will power two eco parks in North Chungcheong Province, South Korea. The project is expected to begin commercial operations in 2025 and marks a significant milestone for the company. Bloom Energy Corporation (NYSE:BE) also announced an agreement with FPM Development to deploy 20 megawatts (MW) of SOFCs across two strategic locations in Los Angeles. The partnership aims to rapidly add affordable and resilient generation capacity to support the local electric utility, mitigate power shortages, and provide clean energy to vulnerable communities across Southern California. The agreement calls for the installation of Bloom Energy Corporation’s (NYSE:BE) fuel cell-based Energy Server at repurposed commercial sites, strategically selected for their location on the grid to support growing electrical demand.
Bloom Energy Corporation’s (NYSE:BE) technology generates electricity with no combustion and negligible criteria pollutant emissions, and it operates on multiple fuels, including natural gas, biogas, and hydrogen, providing a lower carbon footprint compared to the electric grid while maintaining grid stability. This technology allows the company to accomplish its goals of providing clean power solutions faster than the alternatives. While hydrogen is currently more expensive than traditional fuels, Bloom Energy Corporation’s (NYSE:BE) breakthrough in achieving 60% electrical efficiency could make hydrogen economically viable as a fuel source. This makes Bloom Energy Corporation’s (NYSE:BE) fuel cells a cleaner alternative for electricity production.
9. Edison International (NYSE:EIX)
Number of Hedge Fund Holders: 32
Edison International (NYSE:EIX) is a leading energy company that has served California for over a century through its main subsidiary, Southern California Edison (SCE). Edison International (NYSE:EIX) provides electricity to around 15 million people across Southern, Central, and Coastal California. The company is actively involved in California’s transition toward alternative energy, aligning with the state’s goal of achieving carbon-free power by 2045.
In 2023, Southern California Edison (SCE), Edison International’s (NYSE:EIX) principal subsidiary, delivered 52% carbon-free power to its customers. The company has made significant investments in energy storage, contracting approximately 2,200 megawatts in 2023 alone, which increased its total energy storage capacity to about 8,100 megawatts, one of the largest portfolios in the U.S.
SCE is also heavily engaged in grid modernization efforts, completing 84% of its planned grid hardening in high fire-risk areas. These initiatives not only enhance grid reliability but also facilitate the integration of alternative energy sources, ensuring the grid is resilient and ready for the increasing demand for alternative energy.
On October 29, for the three months ended on September 30, Edison International (NYSE:EIX) reported impressive financial results, showcasing the company’s strong performance and solidifying its position as a leader in the utility sector. The company’s third-quarter net income came in at $516 million, or $1.33 per share compared to a net income of $155 million, or $0.40 per share in the previous year. The company’s core earnings were $582 million compared to $531 million in the previous year. The surge was primarily due to higher revenue authorized in Track 4 of SCE’s 2021 General Rate Case and an increase in the rate of return resulting from the cost of capital adjustment mechanism.
Edison International (NYSE:EIX) is also well-positioned to benefit from the expansion of data centers, with California leading the U.S. in data center capacity. The company’s focus on integrating advanced technologies like artificial intelligence (AI) to enhance grid reliability and predict power loads gives it a competitive edge in driving future growth.
8. Sunrun Inc. (NASDAQ:RUN)
Number of Hedge Fund Holders: 35
Sunrun Inc. (NASDAQ:RUN) is one of the largest residential solar energy companies in the US, offering a solar-as-a-service solution that enables homeowners to adopt solar power with little to no upfront cost.
On October 23, Sunrun Inc. (NASDAQ:RUN) announced the activation of New York’s largest residential power plant in partnership with Orange and Rockland Utilities, Inc., a subsidiary of Consolidated Edison, Inc. (NYSE:ED). This innovative virtual power plant leverages over 300 solar-plus-storage systems, with home batteries supplying stored solar energy to stabilize the grid during peak demand events throughout the summer. Initiated by Orange and Rockland Utilities, Inc. and approved by the New York State Public Service Commission as a demonstration project, this year-round program aims to support the state’s clean energy goals and promote a resilient power grid.
Sunrun Inc.’s (NASDAQ:RUN) synchronized batteries will discharge to relieve grid stress while providing backup power to participating customers’ homes. Through the program, the company aims to provide customers with free or discounted home batteries in exchange for a 10-year commitment to support grid reliability, facilitated by upfront payments from O&R based on installed battery capacity. Customers also benefit from bill credits for excess energy shared with the grid and retain a minimum of 20% battery power for their own backup use. Sunrun Inc. (NASDAQ:RUN) is also involved in discussions with data center developers to supply solar power for their facilities.
Sunrun Inc.’s (NASDAQ:RUN) multi-channel strategy, which includes direct-to-consumer sales and strategic partnerships, enables the company to efficiently attract a broad customer base. This diversified approach not only drives customer acquisition but also strengthens Sunrun Inc.’s (NASDAQ:RUN) market presence.
Sunrun Inc. (NASDAQ:RUN) near-term prospects are enhanced by the growing adoption of storage solutions, as more homeowners seek to pair solar energy with battery storage, supporting the company in generating significant recurring annual revenue. Additionally, Sunrun Inc. (NASDAQ:RUN) has been investing in infrastructure and technology to improve its margins and profitability, helping the company optimize its business model as it scales its operations.
7. Clearway Energy, Inc. (NYSE:CWEN)
Number of Hedge Fund Holders: 38
Clearway Energy, Inc. (NYSE:CWEN) owns a diversified portfolio of wind, solar, and traditional power generation projects across the United States. The company has partnered with Global Infrastructure Partners (GIP), an independent infrastructure investment fund, and TotalEnergies (EPA:TTE), a multinational energy and petroleum company, to leverage expertise in alternative energy within the U.S. market.
On October 2, Clearway Energy, Inc. (NYSE:CWEN) announced that it has secured financing and initiated construction for two standalone solar and energy storage projects in Hopkins County, Texas. These projects, the 300-MW Pine Forest Solar and 200-MW Pine Forest Storage installations, represent a $665 million investment to boost alternative energy production in Texas. Dell Technologies has committed to a long-term virtual power purchase agreement to buy a substantial portion of the solar energy produced, supporting its climate goals. Universal Corp., an agricultural products supply company, has also contracted to purchase some of the project’s solar power output. Clearway Energy, Inc. (NYSE:CWEN) expects the Pine Forest projects to reach commercial operation by 2025. The company is also in discussions with corporate entities for the transfer of clean energy tax credits tied to the projects.
Clearway Energy, Inc. (NYSE:CWEN) is developing several large-scale alternative energy projects in California, including the Luna Valley and Daggett I projects, both slated for completion by 2025. The Daggett Storage I Project, located in San Bernardino County, includes a 113.5 MW battery storage facility, part of a broader 482 MW solar and 394 MW storage complex. Meanwhile, the Luna Valley Solar Project, based in Fresno County, is a 200 MW solar facility that will generate enough electricity to power over 80,000 homes. These projects are supported by long-term contracts with investment-grade entities, ensuring steady revenue and significant earnings potential for the company.
6. Enphase Energy, Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 42
Enphase Energy, Inc. (NASDAQ:ENPH) is a global energy technology company that specializes in solar microinverters, energy storage solutions, and energy management devices. Enphase Energy, Inc.’s (NASDAQ:ENPH) microinverters convert direct current (DC) from solar panels into alternating current (AC) for use and are critical for optimizing solar energy systems, enhancing efficiency, and reliability, and are also easy to install. The company is a market leader in residential solar in the U.S. Europe and emerging markets in Asia.
In Q3, Enphase Energy, Inc. (NASDAQ:ENPH) reported $380.9 million in revenue, shipped around 1.73 million microinverters and 172.9 megawatt hours of IQ batteries, and generated $161.6 million in free cash flow. The company’s gross margin for Q3 with net Inflation Reduction Act (IRA) benefits was 48.1%. The company is strategically well-positioned to benefit from the U.S. Inflation Reduction Act (IRA) as its microinverters can help customers qualify for a 10% Investment Tax Credit (ITC), which translates to savings of about $0.40 per watt, under the Domestic Content Bonus Credit provisions of the Inflation Reduction Act. This advantage is expected to help the company achieve higher sales and enhance gross margins. In Q4, Enphase Energy, Inc. (NASDAQ:ENPH) aims for revenue to be within a range of $360.0 million to $400.0 million, ship 1.3 million microinverter units from its US facilities and 140 to 160-megawatt hours of IQ Batteries.
California is a major market driven by NEM 3.0, or the net billing tariff, which reduces compensation for solar-only customers to encourage installed battery storage, which has increased the demand for Enphase Energy, Inc.’s (NASDAQ:ENPH) battery storage systems. In Q3, the company reported a 13% growth compared to the previous quarter, with distributor sell-through and high battery attach rates of nearly 50%. In non-California states, distributor sell-through was up by 14% quarter-over-quarter. Enphase Energy, Inc. (NASDAQ:ENPH) is also expected to drive growth in international markets, particularly in high-growth markets such as Brazil, India, Vietnam, and the Philippines.
5. PG&E Corporation (NYSE:PCG)
Number of Hedge Fund Holders: 46
PG&E Corporation (NYSE:PCG) is a leading energy company in Northern and Central California’s utility market, serving over 16 million people through its subsidiary, Pacific Gas & Electric Company. The company has also made significant investments in battery storage systems, adding more than 2,100 megawatts of battery capacity.
In 2023, PG&E Corporation (NYSE:PCG) achieved 100% alternative energy, derived from a mix of 53% nuclear power, 34% alternative resources such as solar and wind, and 13% large hydroelectric power. On November 4, Pacific Gas and Electric Company (NYSE:PCG) released its updated R&D strategy report, highlighting the potential of artificial intelligence (AI) to transform the energy system and enhance customer experience. The report outlines how the company is integrating AI into its operations to meet growing energy demand, stabilize customer bills, and reduce emissions.
The company is already using AI in various ways, such as in meteorology, planning, inspections, monitoring, maintenance, and customer communications. These AI applications help PG&E Corporation (NYSE:PCG) detect and respond to wildfire risks, improve operational performance, and enhance customer experience. PG&E Corporation’s (NYSE:PCG) CEO Patti Poppe stated that the company is “actively building the carbon-free energy system of the future” and encouraged innovators to join in exploring the role of AI in shaping the energy future.
The report identifies opportunities for AI to improve data collection and analysis, expand capacity, reduce emissions, and provide enhanced customer service. PG&E Corporation (NYSE:PCG) will discuss AI and other innovative topics at its 2024 Innovation Summit on November 13 in San Jose, California. The summit will showcase breakthrough innovation underway in the company and provide an opportunity for collaboration on high-potential challenges.
The California Public Utilities Commission (CPUC) has approved additional capital expenditure (CapEx) funding requirements for PG&E Corporation (NYSE:PCG), enabling the company to raise billing rates. This will support the company’s infrastructure plans and address increased demand for electric vehicles (EVs), artificial intelligence (AI), and data centers. The CPUC’s approval of net billing tariffs and higher customer payments will further bolster the company’s growth prospects.
4. First Solar, Inc. (NASDAQ:FSLR)
Number of Hedge Fund Holders: 66
First Solar, Inc. (NASDAQ:FSLR) is among the largest solar companies in the United States, specializing in the supply of thin-film photovoltaic (PV) solar panels for large-scale solar power plants. The company also has production lines in Malaysia, India, and Vietnam.
On September 26, First Solar, Inc. (NASDAQ:FSLR) inaugurated its new $1.1 billion fully vertically integrated thin-film solar manufacturing facility in Lawrence County, Alabama. This state-of-the-art facility adds 3.5 gigawatts (GW) of fully vertically integrated nameplate solar manufacturing capacity in the United States. This expansion will enable the company to increase its production capacity and meet the growing demand for its solar panels. First Solar, Inc.’s (NASDAQ:FSLR) planned 3.5 GW Louisiana plant is also on target for the second half of 2025, further solidifying its position as a leading manufacturer of solar panels.
First Solar, Inc. (NASDAQ:FSLR) is also well-positioned to benefit from the Inflation Reduction Act (IRA), which provides tax credits for solar energy production. The solar industry is expected to continue growing, driven by increasing demand for alternative energy and decreasing costs.
First Solar, Inc.’s (NASDAQ:FSLR) impressive backlog of 73.3 GW, with orders extending through 2030, is a significant indicator of the company’s growth security. The company’s production capacity expansion plans are another reason to be optimistic about its future prospects. With the Alabama factory now operational and the Louisiana factory on schedule to start production in late 2025, First Solar, Inc. (NASDAQ:FSLR) is well on its way to achieving its goal of 14 GW in U.S. capacity and 25 GW globally by 2026. This increased capacity, combined with a likely lower interest rate environment and stabilized global average selling prices for solar panels, sets the stage for substantial demand tailwinds that the company is well-positioned to capitalize on.
3. Constellation Energy Corporation (NASDAQ:CEG)
Number of Hedge Fund Holders: 71
Constellation Energy Corporation (NASDAQ:CEG) supplies natural gas and energy products and services to residential, commercial, and industrial clients across North America. Constellation Energy Corporation (NASDAQ:CEG) is a key player in nuclear power and operates one of the largest fleets of nuclear plants in the US. Around 90% of the company’s annual energy output is derived from carbon-free sources. Constellation Energy Corporation (NASDAQ:CEG) has set a goal to produce 95% carbon-free electricity by 2030.
On September 20, Constellation Energy Corporation (NASDAQ:CEG) announced the signing of a 20-year power purchase agreement with Microsoft that will pave the way for the launch of the Crane Clean Energy Center (CCEC) and the restart of Three Mile Island Unit 1, a nuclear power plant that was shut down in 2019 due to economic reasons. The agreement is Constellation Energy Corporation’s (NASDAQ:CEG) largest-ever power purchase agreement and will restore the plant to service, adding approximately 835 megawatts of carbon-free energy to the grid.
The plant will provide a reliable source of carbon-free energy to power Microsoft’s data centers in the PJM region and will be a significant contributor to the state’s energy mix, providing a reliable source of carbon-free energy and supporting the state’s economic development. The project is expected to be online in 2028 and will operate for at least 20 years. In its Q2 investor letter, ClearBridge stated the following regarding Constellation Energy Corporation (NASDAQ:CEG) in its Q2 2024 investor letter:
“On a regional basis, the U.S. and Canada was the top contributor for quarter, with U.S. electric utility Constellation Energy Corporation (NASDAQ:CEG) and U.S. rail operator CSX the lead performers. Constellation Energy is primarily a nuclear generation company and is the largest producer of carbon-free electricity in the U.S., serving states including New York, Illinois, Maryland, Pennsylvania and New Jersey. The company’s combined generation capacity is more than 32 GW and 90% of annual output is carbon free. Constellation has been a beneficiary of AI and subsequent power demand as its 24/7 base load nuclear generation can get premium contracts.”
2. NextEra Energy, Inc. (NYSE:NEE)
Number of Hedge Fund Holders: 73
NextEra Energy, Inc. (NYSE:NEE) is the world’s largest producer of wind and solar energy, as well as a leader in battery storage technology. The company’s operations are divided into two main businesses. The first is Florida Power & Light (FPL), an electric utility company. The second is NextEra Energy Resources (NEER), one of the world’s largest producers of alternative energy and a leader in battery storage. NEER focuses on the development, construction, and operation of long-term energy assets, primarily in the U.S. and Canada. NEER manages an alternative energy portfolio of approximately 34 GW, including 24 GW from wind energy, 7 GW from solar energy, and 2 GW from nuclear energy. Additionally, NEER has 1 GW of battery storage capacity spread across 16 U.S. states.
In Q3, NextEra Energy, Inc. (NYSE:NEE) demonstrated compelling growth and resilience across multiple facets of its business, with an approximate 10% year-over-year increase in adjusted earnings to $2.12 billion, or $1.03 per share. The company’s Energy Resources division boasted an 11% increase in adjusted earnings year-over-year. NextEra Energy, Inc. (NYSE:NEE) is exploring restarting Iowa’s Duane Arnold nuclear plant, driven by heightened demand from data centers. In their Q3 earnings call, John Ketchum, Chairman, President, and Chief Executive Officer of NextEra Energy, Inc. (NYSE:NEE) said that the Duane Arnold is a 601 MW boiling water reactor (BWR) plant, which is generally less complex and expensive to recommission than pressurized water reactors (PWRs). The company expects to execute it at an attractive price and without much risk. NextEra Energy, Inc. (NYSE:NEE) is conducting engineering assessments and working with the U.S. Nuclear Regulatory Commission (NRC) on a potential restart due to strong interest from data center customers.
NextEra Energy, Inc.’s (NYSE:NEE) nuclear power capacity factor aligns well with the reliability needs of data centers, which can deliver reliable energy solutions that meet the growing demands of a digitalized economy and positions the company as a strong contender for data centers seeking reliable and alternative energy solutions. The company’s strategic investments in alternative energy, combined with its ability to leverage AI and capitalize on market trends, present an appealing opportunity for investors looking to benefit from the ongoing energy transition. In its Q2 investor letter, ClearBridge stated the following regarding NextEra Energy, Inc. (NYSE:NEE):
“AI-related momentum was a key driver of performance in the second quarter, lifting the enablers in technology as well as holdings like alternative power producer NextEra, Inc. (NYSE:NEE) that supply the increasing energy needs of data centers. Parts of the market lacking an AI connection, like our medical device holdings, underperformed despite no change to fundamentals. We have managed through several similar momentum periods over our tenure and have delivered long-term results for shareholders by staying true to an approach that emphasizes diversification across three buckets of growth companies (select, stable and cyclical) and seeks to take advantage of attractive entry points into quality growth businesses.”
1. Vistra Corp. (NYSE:VST)
Number of Hedge Fund Holders: 93
Vistra Corp. (NYSE:VST) is a vertically integrated energy company based in Texas and operates a diversified energy portfolio. Vistra (NYSE:VST) supplies electricity and natural gas to residential, commercial, and industrial customers. The company also operates battery energy storage facilities, and its nuclear assets play a crucial role in powering artificial intelligence (AI) systems.
On September 11, Vistra Corp. (NYSE:VST) announced a new program in partnership with Sunrun, a solar energy company, to support grid stability and provide financial incentives to homeowners in Texas. The program called the TXU Energy & Sunrun Battery Rewards program, aims to harness the collective power of solar-connected batteries in residential homes to form a virtual power plant. This virtual power plant will enable the aggregation of stored energy in these batteries, which can be discharged back to the grid during times of peak demand.
The program is designed to benefit both Vistra Corp.’s (NYSE:VST) customers and the grid as a whole. Homeowners who participate in the program and have installed Sunrun home solar panels and batteries will receive financial incentives for their participation. They will also retain control of their systems during power outages or severe weather conditions, ensuring they have a reliable source of energy when it’s needed most. Additionally, these customers can continue to benefit from TXU Energy’s solar buyback plans, which credit solar energy system owners for the electricity they add to the grid.
The partnership between Vistra Corp. (NYSE:VST) and Sunrun is a significant development in the energy sector, as it leverages the power of residential solar energy to support grid stability. With over 116,000 installed systems and a proven track record of incentivizing customers to support local power grids, Sunrun brings its expertise in virtual power plants to the partnership.
The program will also contribute to Vistra Corp.’s (NYSE:VST) sustainability goals, as it promotes the use of alternative energy and reduces the company’s reliance on fossil fuels. Additionally, the program will help to reduce the company’s costs associated with peak demand, as the company will be able to draw on the collective power of the residential solar batteries during times of high demand. This can help to reduce Vistra Corp.’s (NYSE:VST) reliance on more expensive forms of energy generation, such as natural gas or coal, and lower its overall costs. In their Q2 investor letter, Fidelity Investments shared the following insights on Vistra Corp. (NYSE:VST):
“An overweight stake in utility company Vistra Corp. (NYSE:VST) (+24%) was the top individual relative contributor. In Q1, the Texas-based independent power producer completed its acquisition of Ohio-based nuclear fleet operator Energy Harbor. The new Vistra, with its expanded geographic footprint, is in strong position to gain from the buildout of AI-capable data centers, which require enormous amounts of power to run. It is expected that local grids in the U.S. will need to invest heavily over the coming years to improve their power infrastructure and meet growing demand. In the nearer term, firms may choose to contract with independent power producers, like Vistra, rather than rely on the local provider.”
Vistra Corp. (NYSE:VST) has also integrated AI technologies into its operations to improve power plant efficiency, enhance thermal efficiency, and lower carbon emissions. The implementation of the Heat Rate Optimizer (HRO) across 67 power-generation units in 26 plants has resulted in a 1% average improvement in efficiency, saving the company millions in operational costs.
While we acknowledge the potential of Vistra Corp. (NYSE:VST) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than VST but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
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