Big Tech Keeps Signing Nuclear Deals With the Same Company. Here's Who It Is and Why That Matters More Than Any Single Deal.
Constellation Energy just inked another nuclear power deal, underscoring how well the company is positioned to meet demand.
Overview
Shares of Constellation Energy (NASDAQ: CEG) rallied on news that it had agreed to a deal that will bring 890 megawatts of new nuclear power to the PJM grid. But the stock still remains 25% below its late 2025 high, as of this writing. The latest deal, with Alphabet's (NASDAQ: GOOG) Google, is just one of many the company has inked with high-tech companies. And it highlights the strength of Constellation Energy's business right now. Here's why it's so important.
U.S. electricity demand increased by 10% between 2005 and 2025. It is projected to increase by 60% between 2025 and 2045. That's a step change in demand, and it is already straining the grid, with new technology playing a material part in the change. The big story right now is artificial intelligence, which requires high-power computers that consume massive amounts of electricity.
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Originally published at www.fool.com.