Economy / Markets
Constellation jumps 12% on a 20-year Google nuclear power deal for AI
Constellation Energy shares rose 12.3% after it agreed a 20-year power purchase agreement with Google to supply 890 megawatts of new nuclear capacity on the PJM grid, backed by more than $4.3 billion of Constellation investment. The deal lifted the wider independent-power complex, with Vistra up 10.8%, and reinforced the view that electricity is now priced as AI infrastructure. Analysts said the contract confirms that power, not just chips, is a binding constraint on data-centre growth, and rotated money into utilities even as Treasury yields stayed high.