Plug Power (PLUG) Extends Rally for 9th Day as Firm Stands to Benefit From AI Boom

We recently published 10 Stocks Stealing Wall Street’s Spotlight. Plug Power Inc. (NASDAQ:PLUG) is one of the top performers on Monday.

Shares of Plug Power soared for a 9th straight session on Monday, adding 21.56 percent to close at $2.65 apiece, as investors snapped up shares in stocks and industries that would largely benefit from the booming artificial intelligence sector.

This followed Nvidia Corp.’s $100 billion investment in OpenAI, which will see the deployment of at least 10 GW of Nvidia systems for OpenAI’s next-generation AI infrastructure to train and run its next generation of models on the path to deploying superintelligence.

Nvidia Corp. said the first phase is targeted to come online in the second half of 2026 using the Nvidia Vera Rubin platform.

Plug Power Inc. (NASDAQ:PLUG), a hydrogen fuel cell and electrolyzer company, is set to benefit from the broader expansion as more companies continue to shell out investments to adopt AI. This, in turn, is expected to spark higher demand for data centers and high-performance computing, which require massive amounts of power.

While we acknowledge the potential of PLUG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.