SES AI’s shares surged by almost 22% after completing an acquisition of China’s UZ Energy for $25.5 million, focusing on energy storage systems. The deal aims to expand the company’s market share in the global $300 billion ESS market, especially in the United States and data center industries.

The acquisition is expected to help SES AI tap into the growing demand for energy storage systems driven by data centers. The company forecasts that data centers will triple their share of electrical consumption in the U.S. by 2028 due to the proliferation of resource-hungry artificial intelligence technology.

Investors looking to buy stock in SES AI should note that the company was not included in the Motley Fool Stock Advisor’s list of the 10 best stocks to buy now. The 10 stocks that made the cut have the potential to provide significant returns in the coming years, as evidenced by past recommendations like Netflix and Nvidia.

Read more at Yahoo Finance: Why SES AI Stock Leaped Nearly 22% Higher on Thursday