AES Corp. (AES) Climbs 16.8% on $38-Billion Bid Reports

We recently published 10 Stocks Stealing The Spotlight Today. AES Corporation (NYSE:AES) is one of the top performers on Wednesday.

The AES Corporation soared by 16.79 percent on Wednesday to close at $15.37 apiece as investors gobbled up shares following reports that it was set to be acquired by Global Infrastructure Partners (GIP) for $38 billion.

A report by Financial Times said Wednesday that the BlackRock-owned investment firm is currently in talks with The AES Corporation (NYSE:AES) for the acquisition that would include the latter’s $29 billion debt. A deal could be finalized this week, albeit not guaranteed.

The AES Corporation (NYSE:AES) has been exploring strategic options since July after receiving takeover bids from infrastructure investors, including GIP.

Meanwhile, BlackRock’s acquisition plans were aimed at capitalizing on the booming energy demand amid the rapid growth of the artificial intelligence sector.

Following the reports, investment firm Barclays assigned an “overweight” rating with a $14 price target on The AES Corporation’s (NYSE:AES) stock.

While we acknowledge the potential of AES 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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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