Vistra shares surged 720% in five years as data center growth and AI energy needs drove demand for its power generation fleet.
Vistra (NYSE: VST) has risen 720% over the past five years, defying expectations for utility stocks as AI-driven data center demand boosted its power generation business. The stock’s gains were concentrated before 2026, with a 3% decline this year amid volatility.
The company, which emerged from Energy Future Holdings’ bankruptcy a decade ago, now holds a dominant position in key data center markets. Hyperscalers like Meta Platforms and institutional investors have taken notice, reinforcing its role in the AI energy supply chain.
Despite the recent pullback, Vistra’s market position suggests potential for further long-term growth as AI infrastructure expands.