Shares of power producers fell as traders rotated into the higher risk sectors that drove 2025 momentum. Treasury yields rose, weighing on utilities.
Alphabet’s acquisition of renewable-energy developer Intersect Power in a $4.75 billion deal reflects the voracious demand for electricity created by the AI boom and the necessity of securing scarce electricity resources for the mega-cap tech companies scrambling for an edge over their competitors, analysts said.
The Trump administration on Monday halted the construction of all U.S. offshore wind projects, a sweeping move aimed at hobbling one of the president’s least favorite industries.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
December 22, 2025 18:57 ET (23:57 GMT)
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