New York, May 25, 2026, 16:04 (EDT)
VivoPower PLC shares start the shortened U.S. week with traders watching its push to turn the Norway data-center buy into more AI infrastructure leasing. With Nasdaq closed Monday for Memorial Day, the $4.67 finish on Friday is still the latest regular-session price for the stock.
VivoPower’s last update landed in a market already moving on the AI power-infrastructure story. Shares popped 16.5% Thursday after the tenant announcement, then gave back 9.5% Friday. For the week, the stock still ended up about 2.9%, using May 15 and May 22 closes.
Stocks saw gains last week, with the Nasdaq Composite closing up 0.5%. The S&P 500 added 0.9%. Risk appetite stayed firm as U.S. markets went into the holiday. The tape gave a lift, but it wasn’t the full story.
VivoPower, which used to trade as VVPR, switched to the VIVO ticker on March 16 with its name change to VivoPower PLC. The company said the new identity lines up with its work around powered land and data center infrastructure used in AI compute.
VivoPower has finished a formal RFP process for its Mo i Rana data center in northern Norway, the latest filing said. The company said it picked a shortlist of AI operator tenants and aims to have a final tenant deal by June 30.
VivoPower says Mo i Rana isn’t a shell. The company describes it as a 41.5-megawatt data center in operation, using only hydroelectric energy and paying under $0.035 per kilowatt hour. There could be another 40 megawatts if regulators approve it.
That’s pushed the stock to trade more on events. In April, VivoPower said it finished buying Cowa subsidiaries holding the Norway facility in a $41 million deal, taking on about $31 million in yearly revenue and $10 million in annualized EBITDA. CEO Kevin Chin called it “strategic and income-producing,” and said VivoPower paid a “disciplined 4x EBITDA multiple.” GlobeNewswire
Power is now the focus for executives, who call it the tightest resource. “Power has emerged as the defining constraint” for AI infrastructure, VivoPower chief investment officer Alex Cuppage said this month. KBRA’s Killian Walsh said AI data-center financing is now “beyond traditional real estate models.” GlobeNewswire
The number of rivals is growing, and the money involved is rising too. Last month, Applied Digital signed a $7.5 billion AI data-center lease with a U.S. hyperscaler, Reuters said. Nvidia has agreed this month to put as much as $2.1 billion into IREN through a broader AI data-center deal, according to Reuters.
But investors have reasons to worry. VivoPower still hasn’t put out word of a signed tenant deal, and its filing points to RFP timing, risk of losing tenants, power costs, regulatory holdups, volatile markets and issues in folding in the new operations. If the company misses the June 30 target, lease terms fall short, or the 40-megawatt expansion slips, the stock could go back to tracking just the current Norway revenues instead of a bigger AI lease pitch.
Markets will be shut Monday, but focus is shifting to follow-through in the days after. Trading restarts once the Memorial Day break is over, and VIVO is back in play. The stock remains small and volatile, and it’s pointing to June 30 as the date when the company expects to wrap up its tenant deal.
