Alphabet Inc. (NASDAQ: GOOGL) is one of the Top AI and Tech Stocks to Buy According to Hedge Funds. On December 15, Bloomberg reported that Alphabet Inc.’s Google (NASDAQ: GOOGL) signed a solar power deal in Malaysia. This comes as the major tech player plans to secure clean electricity for its operations.
Google would buy electricity from a 30-megawatt solar farm developed by a consortium led by a local unit of Japan’s Shizen Energy Inc. in Malaysia’s Kedah state, Bloomberg added. This project is part of the Southeast Asian country’s efforts to provide green energy to businesses and is expected to begin operations in 2027.
This agreement highlights efforts by global technology companies to decarbonize energy-intensive operations, such as data centers.
According to BloombergNEF, Malaysia aims to have 70% of its installed electricity capacity renewable by 2050. This compares to around 26% last year. Malaysia has also taken steps to attract investments accordingly, such as the Corporate Green Power Program, under which the Google-Shizen agreement was signed.
Elsewhere, on December 10, S&P Global announced a multi-year strategic partnership with Google Cloud to accelerate enterprise-wide transformation through agentic innovation, data distribution and workflow automation. This expansion marks another milestone in S&P Global’s strategic AI and cloud journey.
While we recognize GOOGL’s potential as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for a hugely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the reshoring trend, check out our free report on the best AI stock in the short term.
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Disclosure: None. This article was originally published on Initiated Monkey.
