10 Big Names Leading Wall Street Gains

3. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

SolarEdge bounced back from a two-day loss on Wednesday to nearly hit its 52-week high, as investors cheered a strong earnings performance and a new partnership that would see the development of new technologies for next-generation AI data centers.

At the end of the trading session, SolarEdge Technologies, Inc. (NASDAQ:SEDG) surged by 28.91 percent to $41.02, or just 90 cents shy of its 52-week high of $41.92, after reporting a 96 percent lower net loss in the third quarter of the year at $50 million versus $1.23 billion in the same period last year.

Revenues also grew by 45 percent to $340 million from $235 million year-on-year.

“We’re making steady progress in our turnaround, with three consecutive quarters of revenue growth and improving margins, and we’re not done yet,” said SolarEdge Technologies, Inc. (NASDAQ:SEDG) CEO Shuki Nir.

“With energy taking an increasingly vital role in powering the global economy, we believe that SolarEdge is positioned for continued growth, sustained profitability, and leadership in smart energy solutions,” he added.

In other developments, SolarEdge Technologies, Inc. (NASDAQ:SEDG) said that it joined forces with Infineon Technologies AG for the design, optimization, and validation of a Solid-State Transformer (SST) platform for AI and hyperscale data centers.

According to the company, the SST is well positioned to play a crucial role in future, highly efficient 800-volt direct current (VDC) AI data center power architectures.

“It is essential that the data center industry is equipped with solutions that deliver higher levels of efficiency and reliability. SolarEdge’s deep expertise in DC architecture uniquely positions us to lead this transformation,” Nir added.