Canadian Solar (CSIQ) stock is soaring 5.04% in intraday trading on Thursday, riding a wave of enthusiasm that has lifted the entire solar sector. The surge comes in the wake of news that Meta, formerly Facebook, has signed deals to source more solar power for its data centers, igniting investor interest in solar energy stocks.

The movement is part of a broader rally in solar stocks, with the Invesco Solar ETF up 2.3%. Other major players in the industry are also seeing significant gains, with Enphase Energy surging 11.1%, Sunrun up 10.2%, and SolarEdge Technologies rising 9%. This widespread uptick suggests a renewed confidence in the solar energy market, potentially driven by increasing corporate commitments to renewable energy sources.

Meta's decision to increase its solar power sourcing for data centers is seen as a major catalyst for the sector. As large tech companies continue to expand their data center operations and simultaneously aim to reduce their carbon footprint, solar energy providers like Canadian Solar stand to benefit. This move by Meta could signal a growing trend of tech giants turning to solar power, potentially leading to increased demand and revenue opportunities for companies across the solar energy supply chain.