Overnight, we heard that Baltimore-based Constellation Energy Corp., , the biggest US nuclear operator, has agreed to sell power from an operating Illinois nuclear plant to Meta Platforms (META US). This deal could spur the construction of a new reactor at the site as AI-driven power demand soars. The parent company of Facebook, Instagram and WhatsApp signed a 20-year contract to buy the output from the Clinton plant starting in mid-2027. The agreement is the latest evidence of technology companies’ voracious appetite for energy to run data centres and AI. Nuclear energy is especially prized because it’s available around the clock and doesn’t emit planet-warming air pollution. Meta is increasingly interested in nuclear to run its operations, and in December announced it was seeking proposals for as much as 4 gigawatts of new US reactors.
- We remain bullish on the US nuclear sector, hoping the local stocks can start to share the love being enjoyed by their US peers.
