Why Plug Power Stock Shot Higher Today
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Plug Power's stock surged nearly 15% in early trading, driven by increasing demand for hydrogen fuel cells and a major announcement from Nvidia regarding a $100 billion investment in OpenAI for data center expansion. Plug's green hydrogen production facility in Georgia positions it well to meet the growing power needs of data centers. Despite reporting significant operating losses, the company's revenue rose 21% last quarter, indicating potential for future growth as demand for its GenDrive fuel cells increases.
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