Solar Stocks Riding Battery and AI Themes Lose Over 1 Trillion Won in a Day

Shares of NextPower Inc. (NXT) tumbled 5.48% on the Nasdaq to close at $122 on the 22nd (local time). Heavy trading drove the company’s market capitalization down to about $18.3 billion, erasing roughly $950 million in value in a single day.

NextPower recently announced an agreement to acquire energy storage firm Prevalon Energy from Mitsubishi Power Americas and others for up to $365 million, marking its entry into the battery energy storage system and AI data center power markets. Although the stock spiked immediately after the news, it has since entered a short-term correction amid profit-taking pressure and increased volatility.

Up through November 2025, NextPower operated under the name Nextracker, supplying solar tracking equipment. Headquartered in Fremont, California, the energy technology company provides large-scale solar farm trackers and software. It has since rebranded to position itself as an integrated platform provider encompassing power conversion equipment and energy storage. Under founder and CEO Dan Shugar, NextPower is pursuing aggressive M&A and business expansion in the utility-scale solar and storage market.