T1 Energy Inc. (NYSE:TE) saw explosive gains on Friday, hitting a new record high. The company’s compliance efforts for clean energy tax credits were well received by investors. TE reached an intra-day high of $8.12, a two-year record, before closing at $7.84, up 17.37 percent.

Last week, T1 Energy repaid debt to Trina Solar, reducing foreign ownership and complying with the OBBBA. The law restricts companies with excessive foreign ownership from tax credits, especially from prohibited foreign entities like China, North Korea, Russia, and Iran. TE also amended its certificate of incorporation to limit foreign ownership.

While TE shows investment potential, other AI stocks may offer higher returns with less risk. For a cheap AI stock benefitting from Trump tariffs and onshoring, check out the free report on the best short-term AI stock.

Read more at Yahoo Finance.: T1 Energy (TE) Soars 17% on Tax Credit Compliance Efforts