Big Tech Keeps Signing Nuclear Deals With the Same Company. Here's Who It Is and Why That Matters More Than Any Single Deal.
By newsfeedback@fool.com (Reuben Gregg Brewer)
Read original article on Motley FoolShares 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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