Shares in Detroit carmaker Ford surged more than a fifth over two days, the sharpest jump since 2020, on investor hopes that its new energy unit will profit from the US data centre boom.
Ford launched its new subsidiary, Ford Energy, on Monday as part of a pivot away from electric vehicles and towards providing battery storage capacity for Big Tech giants building AI data centres, deploying technology licensed from Chinese battery giant CATL.
The company’s stock jumped 13 per cent on Wednesday after Morgan Stanley analysts said its relationship with CATL gave Ford an “under-appreciated strategic competitive advantage for its energy storage business”, estimating it could generate a gross margin of 25 per cent and grow to be worth $10bn.
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