Nuclear Stocks Surge as AI Data Center Energy Demand Soars

Constellation Energy and Vistra see record stock gains following major deals and growing reliance on nuclear power to meet AI-driven electricity needs.

• Constellation Energy secured a $1 billion, 10-year contract to supply nuclear power to over a dozen U.S. government agencies, marking a historic federal energy procurement.
• Vistra and Constellation Energy stocks reached record highs, driven by optimism around AI data center energy demands and favorable market conditions for nuclear energy providers.
• AI data centers' massive power requirements are projected to outstrip existing supply, with U.S. power grid capacity needing to more than double by 2030 to meet demand.
• Constellation plans to restart Pennsylvania's Three Mile Island Unit 1 as part of a partnership with Microsoft to power its data centers, adding 1,100 MW of clean energy by 2028.
• The Inflation Reduction Act's updated tax credit eligibility for existing nuclear plants is expected to further boost nuclear energy investments and stock performance.

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