Electricity demand from AI data centers is pushing everyone — including automakers like GM and Ford — into the energy storage business.

GM is developing an entirely new sodium-ion battery chemistry for use in everything from data centers to its own factories.

Form Energy and Redwood Materials both received orders from the data center developer.

Power has become one of the biggest bottlenecks in rolling out new AI data centers. That's creating an opening for investors.

The duo have teamed up with other companies to launch Utilize, which seeks to change how the grid is used and regulated.

The deal paves the way for Form Energy to raise a new funding round before potentially going public next year.