Atlas Energy Solutions Rockets on New Contracts, Power Generation Deals

Atlas Energy Solutions (NYSE: AESI) shares skyrocketed nearly 14% on Friday after signing two new contracts. The company, which provides equipment and materials for oil and gas extraction and power generation, has a global framework agreement with Caterpillar. Under the terms of these new deals, Atlas will provide supporting equipment and incremental power-generation assets for data centers in partnership with a leading frontier artificial intelligence (AI) lab.

According to CEO John Turner, 'This customer's willingness to enter into cost reimbursement agreements is a clear sign of commitment to these projects as we work together toward the execution of long-term power purchase agreements.' The company's recent pivot into power generation has kept it somewhat under the radar in the AI arms race.

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