Shares of Plug Power (PLUG) surged 5.14% in pre-market trading on Wednesday, as investors responded positively to the company's latest strategic moves. The hydrogen firm announced plans to raise cash through the sale of electricity rights and a new partnership in the artificial intelligence (AI) sector.

The stock's upward movement comes on the heels of Plug Power's announcement, which hints at a potential pivot in the company's business model. By selling electricity rights, the firm aims to bolster its cash position, while the AI power deal partnership suggests an expansion into high-growth tech sectors.

This strategic shift appears to have resonated with investors, who see potential in Plug Power's efforts to diversify its revenue streams and tap into the booming AI market. The pre-market rally indicates renewed confidence in the company's ability to navigate challenges in the hydrogen sector while exploring new opportunities in the rapidly evolving energy and technology landscape.