Noble Corporation plc (NE) stock is gaining due to strong revenue increase and large contract backlog.

From Yahoo Finance: 2025-05-02 07:59:00

Energy stocks are gaining this week, with Noble Corporation plc (NE) being one of them. The AI boom is transforming the energy sector, with data centers expected to double electricity demand by 2030. Natural gas and nuclear energy are options, but concerns about overestimated power demands have eased with better-than-expected results from tech companies.

Noble Corporation plc (NE) reported a 37.26% YoY revenue increase in Q1 2025, reaching $874.5 million. The company’s contract backlog is at $7.5 billion, with new contracts totaling 15 rig years. NE ranks 6th on the list of energy stocks gaining the most this week, but AI stocks are seen as holding greater promise for higher returns.

Read more: Why Noble Corporation plc (NE) Stock is Gaining This Week