CATL's profit soars on energy storage

CATL's profit soars on energy storage

Data: CnEVPost; Chart: Katie Fehrenbacher / Axios

Chinese battery giant Contemporary Amperex Technology's revenue and profit jumped in H1 2026 on the back of demand for energy storage.

Zoom in: CATL, the world's largest battery maker, reported net profit of 43.28 billion yuan ($6.4 billion), a 42% jump from the previous year.

  • Revenue climbed to 55% to 276.92 billion yuan ($40.9 billion).

    • How it works: Data centers developers are using batteries to help maintain grid reliability and flexibility, as well as enabling backup power and behind-the-meter projects.

    The bottom line: Batteries are the latest commodity that data centers are sucking up in an attempt to build the AI future.