Key Takeaways
- Constellation Energy shares rose after the company reached a 20-year power deal with Google.
- The companies said they will use artificial intelligence to reduce costs and improve grid operations.
Constellation Energy said it inked a long-term power deal with Google. Investors are cheering the news.
Shares of Constellation Energy (CEG) were up 9% in pre-market trading after the Baltimore-based nuclear energy firm and Google announced a 20-year power purchase agreement that will bring new nuclear capacity onto the PJM Interconnection grid to meet growing demand.
PJM Interconnection is the largest power grid operator in the U.S., coordinating electricity movement in all or parts of 13 states and the District of Columbia.
As part of the agreement, Constellation Energy said it will deploy Google Cloud and Gemini Enterprise to build the “AI for Energy” blueprint for next-generation grid operations. “The aim is to use AI to reduce the costs of new infrastructure, improve performance, ensure enough power is generated to meet rising demand, and safeguard the energy grid they rely on,” the companies said in a press release.
Entering Tuesday, shares of Constellation Energy were down 24% for 2026. Those of Google parent Alphabet (GOOGL), which were up less than 1% in pre-market trading, entered the day about 11% higher for the year.
