Constellation Energy (CEG) signed a 3,590 MW package with Google, including a 20-year PPA for 890 MW of new nuclear capacity from uprates at 11 units in Illinois, Pennsylvania and New Jersey, plus a 15-year supply agreement for 2,700 MW from the existing PJM fleet. Constellation plans more than $4.3 billion of investment, with the first uprate online in 2028 and all 890 MW in place by the end of 2032. Shares closed at $253 on October 23, down 30.5% year to date and 38% below the 52-week high of $406.04, even as the NRC opened a special inspection at the Dresden plant on October 14. Q2 revenue rose 23% to $7.50 billion and adjusted operating EPS rose 33% to $2.55, and management raised 2026 adjusted operating EPS guidance to $11.50–$12.50 ahead of the November 9 Q3 report. Nuclear output fell 2.2% in Q2 to 44,160 GWh; the author says the long-dated contracts could make earnings more predictable, while operational risk, especially the Dresden inspection, remains the key question.
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Constellation Energynuclear energyelectricitydata 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 | $4.0T |
| Close on 10/23/2026 | 320.21 |
| Change that session | -1.24% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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