Unlikely S&P 500 Stock Leaves Nvidia Behind With 241% Gain In 2024

While Nvidia Corp NVDA continues to ride the AI wave, it’s not the only S&P 500 stock cashing in on artificial intelligence.

Meet Vistra Corp VST—a Texas-based utility powerhouse that has quietly surged by 45.69% over the past month, leaving Nvidia’s modest 12.43% monthly gain in the dust.

The real kicker? Vistra is leveraging AI in a whole new way.

Powering Up: How Vistra Is Tapping Into AI’s Energy Demand

You might not immediately associate a utility company with AI, but Vistra is a different breed. The company accounts for nearly one-fifth of Texas’ electricity generation, and with its recent expansion into nuclear power, it’s now well-positioned to supply the massive energy needs of AI data centers.

These centers require enormous amounts of clean, reliable power, and Vistra’s strategic nuclear acquisitions in 2023 and 2024 have put it at the forefront of this emerging energy market.

Nuclear Moves: Vistra’s Big Bet Pays Off

When Vistra finalized the purchase of the remaining assets of its newly created nuclear entity earlier this year, the market responded enthusiastically. It’s no wonder—nuclear power is set to play a critical role in AI infrastructure, and Vistra has positioned itself as a key player.

Read Also: Utilities Outpace S&P 500, Fueled By AI: These 2 Stocks Lead The Charge

Vistra Stock Still Bullish Despite The Surge

Technically speaking, Vistra’s stock remains on a bullish tear.

Chart created using Benzinga Pro

At $129.60, the stock is well above its key moving averages, with the eight-day SMA at $129.13 and the 50-day SMA at $96.33, signaling continued buying pressure.

Even after its rapid rise, Vistra’s technicals suggest there’s still room for upside.

The AI Utility Play You Didn’t See Coming

With a year-to-date gain of 241.48%, Vistra has not only outpaced Nvidia but has also shattered expectations in the utility sector.

Vistra’s rise indicates that AI is lifting not just tech stocks but utilities as well, riding high on the demand for power-hungry data centers.

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