Why Constellation Energy Rallied Today
Constellation Energy signed a big power deal with Alphabet.
Overview
Shares of Constellation Energy (NASDAQ: CEG) rallied 11.4% on Tuesday as of 3:25 p.m. EDT.
Constellation made news today after inking a huge deal with Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), under which Constellation will upgrade and expand its nuclear power capacity to the PJM power grid, supplying more of Alphabet's AI data centers in that area.
Details
Today, Alphabet and Constellation signed a comprehensive power purchase agreement that will enable Constellation to supply additional nuclear power to the PJM electricity grid, which stretches from the mid-Atlantic region to Illinois, and fuel Alphabet's fast-growing AI data center footprint in those areas.
Source
Originally published at www.fool.com.