American Electric Power Inc. (NASDAQ: AEP) stock rose 5% despite mixed earnings on Oct. 29, with revenue at $6.01 billion, up from estimates of $5.57 billion. AEP missed on EPS by a fraction but saw YOY growth. AEP forecasts 7-9% earnings growth over five years with a $72 billion CapEx plan.

Utilities stocks like AEP benefit from AI infrastructure expansion. Investors are bullish on AEP as it plays a key role in AI growth. NVIDIA, Microsoft, and Meta Platforms are important players in this economy. AEP raised its earnings forecast and plans significant growth by 2030.

Residential electricity prices may rise 6% due to data center demand. AEP aims to limit rate increases to 3-5% annually. Data center electricity has doubled since 2022, driving energy demands. AEP’s efforts to manage rising demand benefit customers.

AEP stock surged post-earnings with high volume. It broke resistance levels and may see further buying. MACD indicator is bearish, but RSI is strong. Pullbacks could be buying opportunities, with the 50-day SMA providing support. Short interest could also support a bullish case.

Read more at NASDAQ.: Investors Boost American Electric Power on AI Growth