T1 Energy’s shares jumped 8.3% in morning trading after Norway’s Mo i Rana municipal government approved the rezoning of 161,000 square feet at the company’s Giga Arctic campus for data center operations.
The rezoned area represents a portion of the campus’s total 926,000 square feet, with the remainder designated for industrial use. The move follows T1 Energy’s positioning in Norway’s grid capacity queue for up to 396 MW, with an initial 50 MW phase planned for a 2027 launch.
The stock, listed under ticker TE, rose 0.375 to 4.885, extending gains from an earlier 7.7% intraday advance. The broader market showed modest gains, with the Nasdaq up 0.9% and the S&P 500 rising 0.3% during the session.
