33 Most Important AI Companies You Should Pay Attention To

14. NRG Energy, Inc. (NYSE:NRG)

Number of Hedge Fund Holders: 44

YTD Return as of August 1: 58% 

NRG Energy, Inc. (NYSE:NRG) operates as an energy and home services company in the United States and Canada. The firm is emerging as an important AI firm because it produces and sells electricity, vital for powering the AI needs of companies and consumers alike. Electricity demand has witnessed an increase in North America for the first time in almost four decades. This increase could prove to be a meaningful growth driver in revenues for power firms like NRG that are already using AI models within to improve sales and energy management strategies. The company is also investing heavily in renewables to make this transition easier for ESG investors.

Larry Coben, the CEO of NRG Energy, Inc. (NYSE:NRG), underlined during the first quarter earnings call that electrification trends compounded by GenAI data center growth forecast a signal of transformative rises in power demand. Coben noted that this enabled the firm to remain on track to achieve 15% to 20% free cash flow before growth per share CAGR target.