Constellation Energy (CEG) signed a 20-year nuclear power purchase agreement with Alphabet's Google, supplying carbon-free electricity for energy-intensive data centers. The stock rose 4.6% in one day to $270.74, though it is down 26.08% year to date and 22.23% over one year, while its 3-year total shareholder return is up 146.36%. The most followed narrative puts fair value at $350, implying the stock is 22.6% undervalued. However, the current P/E of 27.7x is above the US Electric Utilities industry at 20.3x and a 20x peer average, and just below a 29.7x fair ratio. The article also flags risks such as uprate projects running over budget or regulators capping returns on long-dated nuclear contracts.
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electricityGOOGLvaluationdata centers
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Related tickers and likely impact
GOOGL
▲ Likely positiveAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.3T |
| Close on 10/21/2026 | 334.76 |
| Change that session | -1.62% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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