Nextracker (NXT) Expands Market Lead with Major Greece Project
A panoramic view of a concentrated solar power plant swathed in bright sunshine.
On June 25, Nextracker reported that it has been selected to supply its NX Horizon solar trackers for one of Europe's largest solar initiatives, the 550 MW Oricheio PPC Ptolemaida project in Western Macedonia, Greece. Developed on repurposed coal mine land and owned by PPC Renewables, the plant is now in its final construction phase and is expected to deliver nearly 1.8% of Greece's electricity annually once operational.
This project is a key component of Greece's revised energy plan, which aims to achieve 82% renewable electricity generation by 2030. It will also support European efforts towards energy independence and emissions reduction. For Nextracker, the project will strengthen its growing presence in the European solar market, where it now holds the top market share, according to Wood Mackenzie.
While we acknowledge the potential of NXT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: Harvard University Stock Portfolio: Top 10 Stock Picks and .
Disclosure: None.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 minutes ago
- Yahoo
Nvidia asks Foxconn to suspend work for H20 chip, sources say
BEIJING (Reuters) -Nvidia has asked Foxconn to suspend work on the H20 AI chip, the most advanced product the U.S. company is currently permitted to sell to China, two people briefed on the matter said. Foxconn, formally known as Hon Hai Precision Industry Co Ltd, handles backend processing work as one of Nvidia's component suppliers for the chip. "We constantly manage our supply chain to address market conditions," Nvidia said in a statement, declining to elaborate further. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
8 minutes ago
- Yahoo
South Korea's Lee says plans record $25 billion govt spending on research in 2026
SEOUL (Reuters) -South Korean President Lee Jae Myung said on Friday the government planned to boost research spending by nearly a fifth to a record 35.3 trillion won ($25.23 billion) in 2026 to help drive the development of artificial intelligence technologies. In televised remarks, Lee said South Korea had managed to transform into an industrial powerhouse through investing in the years since Japanese colonial rule ended in 1945. South Korea is "the only country in the world that was liberated from a colony and succeeded in both industrialisation and democratisation, and that was because we invested in the future," Lee said. The decision to increase the budget for research spending by almost 20% reversed spending cuts made under the previous administration of now-ousted Yoon Suk Yeol, government data shows. ($1 = 1,399.2900 won)
CNBC
10 minutes ago
- CNBC
Nvidia looking to halt H20 chip production after China cracks down on purchases, reports say
Nvidia has asked some of its component suppliers to stop production related to its made-for-China H20 general processing units, as Beijing cracks down on the American chip darling, The Information reported Friday. The directive comes weeks after the Chinese government told local tech companies to stop buying the chips due to alleged security concerns, the report said, citing people with knowledge of the matter. Nvidia reportedly as asked Arizona-based Amkor Technology, which handles the advanced packaging of Nvidia's H20 chips, and South Korea's Samsung Electronics, which supplies memory for them to halt production. Samsung and Amkor did not immediately respond to CNBC's request for comment. A separate report from Reuters, citing sources, said that Nvidia had asked Foxconn to suspend work related to the H20s. Foxconn did not immediately respond to a request for comment. In response to an inquiry from CNBC, an Nvidia spokesperson said "We constantly manage our supply chain to address market conditions." The news further throws the return of the H20s to the China market in doubt, after Washington said it would issue export licenses, allowing the chip's exports to China — whose shipment had effectively been banned in April. Last month, the Cyberspace Administration of China had summoned Nvidia regarding national security concerns with the H20s and had asked the company to provide information on the chips. Beijing has raised concerns that the chips could be have certain tracking technology or "backdoors," allowing them to be operated remotely. U.S. lawmakers have proposed legislation that would require AI chips under export regulations to be equipped with location-tracking systems to avoid their illegal shipments. Speaking to reporters in Taiwan on Friday, Nvidia CEO Jensen Huang acknowledged that China had asked questions about security "backdoors," and that the company had made it clear they do not exist. "Hopefully the response that we've given to the Chinese government will be sufficient. We're in discussions with them," he said, adding that Nvidia had been "surprised" by the queries. "As you know, [Beijing] requested and urged us to secure licenses for the H20s, for some time and I've worked quite hard to help them secure the licenses, and so hopefully this will be resolved," he said. Nvidia in a statement on Friday said "The market can use the H20 with confidence." It added: "As both governments recognize, the H20 is not a military product or for government infrastructure. China won't rely on American chips for government operations, just like the U.S. government would not rely on chips from China. However, allowing U.S. chips for beneficial commercial business use is good for everyone." Last month, Nvidia had reportedly sent notices to major tech companies and AI developers urging them against the use of the H20s, in what first had appeared as a soft mandate. The Information later reported that Beijing had told some firms, including ByteDance, Alibaba and Tencent, to halt orders of the chips altogether, until the completion of a national security review. It had been seen as a major win for Nvidia when Huang announced last month that the U.S. government would allow sales of the company's H20 chips to China. However, the national security scrutiny the H20s are now facing from the Chinese side, highlights the difficulties of navigating Nvidia's business through increasing tensions and shifting trade policy between Washington and Beijing. Chip industry analysts have also said Beijing's actions appear to reinforce its commitment to its own chip self-sufficiency campaigns and its intention to resist the Trump administration's plan to keep American AI hardware dominant in China.
