Alcoa's stock surged 5.03% during intraday trading on Wednesday, as the company unveiled a strategic initiative to monetize its assets in the burgeoning artificial intelligence sector.

The movement follows CEO Bill Oplinger's announcement that the aluminum producer plans to cash in on the AI data center boom by selling idled sites. Alcoa has identified 10 such locations it aims to sell to AI space developers, targeting its first transaction by the end of June. The company highlighted that developers are evaluating sites based on proximity to major markets, climate conditions, and, critically, access to significant megawatts of power.

This strategic pivot capitalizes on the surging electricity demand driven by power-intensive AI computing infrastructure. The move mirrors a similar successful deal by rival Century Aluminum and positions Alcoa to benefit from an estimated $600 billion spend by hyperscalers on new equipment in 2026.