Constellation Energy Stock News

The major indexes cleared key levels despite Tesla diving on a Musk-Trump meltdown.

President Donald Trump wants to quadruple nuclear power by 2050, but the U.S. is heavily dependent on foreign countries for its fuel supplies. The enriched uranium market is dominated by state-owned corporations, particularly Russia's Rosatom, raising security concerns.

Constellation Energy Corp (NASDAQ: CEG) fell 3% on Wednesday after analysts estimated it won't receive a high premium for its electricity from its deal with Meta Platforms Inc (NASDAQ: META). Meta has agreed to buy about 1.1 gigawatt of energy from CEG's nuclear power plant in Illinois.

Big tech's appetite for energy could means upside for nuclear power stocks

More nuclear power deals could be on the horizon, according to analysts.

Before the market's open on June 3, Constellation Energy NASDAQ: CEG, a nuclear energy giant, announced a new deal with AI hyperscaler Meta Platforms NASDAQ: META. This comes just days after a report from the Wall Street Journal stated that Meta aims to allow marketers to fully automate ad creation by the end of 2026.

The deal is Meta's first in nuclear power, echoing moves from industry leaders like Microsoft, Google and Amazon.

The four executive orders recently signed by President Donald Trump help to address the importance and growth of the U.S. nuclear-energy sector in domestic power generation, but it'll be quite a challenge for the nation to provide the uranium it requires to quadruple nuclear-energy capacity in 25 years.