Blackrock’s 30 Most Important AI Stocks

Page 9 of 30

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

Number of Hedge Fund Holders: 49

NRG Energy, Inc. (NYSE:NRG) operates as an energy and home services company in the United States and Canada. There are multiple factors that make this company stand out as a worthwhile investment. Firstly, as per the reports of the third quarter of 2024, the company revised its share repurchase plan to $925 million and is on target to achieve investment-grade credit metrics by the end of 2024. It also plans to collaborate with Renew Home and Google Cloud to create and operationalize 1 GW of Virtual Power Plant platform capacity in Texas. Secondly, the company’s consistent efforts to integrate AI into all its operations make this company a compelling choice for investors. For instance, the company has established an AI Center of Excellence, focusing on developing a risk mitigation strategy. Moreover, the company has partnered with Renew Home to boost its residential VPP capabilities. This aims to distribute hundreds of thousands of VPP-enabled smart thermostats by 2035 and create a nearly 1 GW AI-powered VPP – enabled by Google Cloud technology – to improve the Texas grid’s resiliency and help households manage and lower their energy costs.

Page 9 of 30