Vanguard Group boosts Talen Vitality stake to 10.4% as AI demand grows

(Reuters) – U.S. asset administration agency Vanguard Group elevated its stake in unbiased energy producer Talen Vitality Corp to 10.4%, in line with a submitting on Wednesday.

As Large Tech pours in billions of {dollars} into AI expertise, the demand for electrical energy to feed power-hungry knowledge facilities has additionally grown. The principle beneficiaries of this demand are utilities resembling Talen Vitality.

Vanguard, Talen Vitality’s second-largest shareholder, revealed it bought over 4 million shares of the utility’s frequent inventory. As of October, the asset supervisor owned about 9.9% of its excellent shares.

Shares of Talen Vitality rose over threefold in 2024. They have been marginally increased in prolonged buying and selling on Wednesday.