XOS Stock Tumbles Over 28% Today – Company To Raise About $6M To Fund AI Data Center Infra

• The offering is expected to close on or about June 5, 2026, subject to customary conditions.
• Xos' newest product line, the Power Hub series, is a mobile power storage and delivery system built on the same tech that powers its existing portable EV chargers.
• The company stated that the Power Hub is available in three variants, with capacities ranging from 1.2 MWh to 4 MWh, and can be up and running within days of deployment.

Shares of Xos Inc. (XOS) fell more than 28% on Thursday after the electric commercial vehicle maker announced that it entered into a securities purchase agreement with institutional investors for the offering of over 1.09 million shares of its common stock at a purchase price of $5.50 per share.

XOS stated that gross proceeds from the offering would be about $6 million.

The company stated it will also use the proceeds to fund its growth plans, including expanding its Power Hub and energy storage business into grid-independent power markets serving AI data centers and industrial power markets.

The offering is expected to close on or about June 5, 2026, subject to customary conditions, Xos stated.

Power Hub Series For Data Centers

Xos' newest product line, the Power Hub series, is a mobile power storage and delivery system built on the same tech that powers its existing portable EV chargers, giving businesses an alternative to traditional utility companies for electricity.

The company stated that the Power Hub is available in three variants, with capacities ranging from 1.2 MWh to 4 MWh, and can be up and running within days of deployment.

“The single biggest constraint in US industry right now is the inability to deliver power where it’s needed, when it’s needed,” said Dakota Semler, Chief Executive Officer at Xos. “We engineered this product to do three things that conventional energy storage systems cannot: arrive on a standard truck, energize without a microgrid controller, and make every kilowatt-hour of fuel-fired generation cleaner and more efficient. This is not a battery. It is a deployable power plant.”

What Does XOS Do?

Xos is based in Los Angeles, with manufacturing in Byrdstown, Tennessee. It has been transitioning toward cleaner commercial transport and off-grid power solutions.

The company builds and sells all-electric commercial vehicles and energy storage systems tailored for fleet operators. 

What Retail Thinks Of XOS

On Stocktwits, retail sentiment surrounding the stock has remained ‘extremely bullish’ amid ‘extremely high’ message volumes in the past 24 hours. 

One user on Stocktwits noted the market for powering data centers is massive.

XOS stock has gained more than 169% year-to-date.

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