Keep an eye on hydrogen stocks.

While the sector is still waiting for a decision on 45V tax credits, there’s been more action.

Over the last few days, 13 U.S. senators just sent a letter to Treasury Secretary Janet Yellen to revise 45V rules or risk having them challenged in court. “Unless revised according to the suggestions below, the proposed guidance will undermine our shared goal of creating an enduring domestic clean hydrogen industry capable of significantly reducing economy-wide carbon emissions,” wrote the senators.

In the meantime, some hydrogen stocks have been on the move, including Bloom Energy (BE).

Up to $15.58 in pre-market, the company just said it would deploy its fuel cells to generate on-site power for a high-performance artificial intelligence data center with CoreWeave. 

Also, Morgan Stanley just reiterated its overweight rating on the Bloom stock with a price target of $22. The firm added “We believe BE is one of the most underappreciated ways to play the Powering AI theme,” adding that the agreement between it and Coreweave “further demonstrates the viability and role of solid oxide fuel cells to power data centers and solve the time-to-power constraints.”