Sunrun Inc RUN Shares are trading higher on Monday after reports that the company is in talks to supply solar power to data centers.

What happened: According to Bloomberg, Sunrun is in talks with data center companies to provide distributed solar energy for data facilities.

CEO Mary Powell Reportedly at the Dervos 2024 conference on Friday that Sunrun is looking at a number of different approaches, including working with electric utilities to provide solar energy systems for new data centers or using the company’s existing systems in nearby areas.

The report indicates that the Sunrun chief declined to provide further details about the company’s plans due to non-disclosure agreements with developers.

“It’s just a radical collaboration that has incredible benefits for everyone,” Powell reportedly said at the conference.

Sunrun shares rose about 5% late Friday and continued to rise Monday morning.

Check this out: These nuclear energy stocks are exploding because big tech companies believe they can meet AI’s energy needs

The potential partnership between Sunrun and data center companies comes as major technology companies increasingly look for solutions to meet rising energy needs associated with the AI ​​boom.

Nuclear energy companies have been the biggest beneficiaries in recent weeks Googling announced a deal to buy power from a fleet of small modular reactors (SMRs) and Amazon announced plans to invest more than $500 million in nuclear energy.

Sunrun is expected to report third-quarter financial results after the market closes on November 7. Investors will look forward to any updates on potential data center power deals. The company is expected to report a loss of 14 cents per share on revenue of $564.862 million, according to Benzinga Pro estimates.

RUN Price promotion: According to Benzinga Pro, shares of Sunrun were up 5.14% to $15.11 at the time of publication.

Photo: Pixabay.