Amazon Secures 20-Year Nuclear Deal as Goldman Sachs Raises Price Target
Amazon.com Inc. has secured a significant 20-year nuclear power deal with Constellation Energy, while also receiving a bullish endorsement from Goldman Sachs. The agreement, announced on October 1, 2026, ensures Amazon access to 690 megawatts of nuclear power from the Calvert Cliffs plant in Maryland, supported by over $3.0 billion in investment. This deal is strategically important for Amazon's artificial intelligence expansion and addresses operating constraints for its AWS data centers, which are central to the company's cloud computing and AI services.
Goldman Sachs added Amazon to its October conviction list on October 2, 2026, setting a $375 price target for the stock. This target represents a 49.09% premium over the Nasdaq close of $251.52 on the same day. The investment bank's optimism is backed by Amazon's strong second-quarter 2026 performance, where revenue rose 19.60% year over year to $200.61 billion, and operating income increased 43.20% to $27.46 billion. AWS, Amazon's cloud division, grew 37.00% in the quarter with a 39.40% operating margin, highlighting the company's focus on cloud demand and margin expansion.
As of October 5, 2026, Amazon's stock was trading at EUR 224.25 at Lang & Schwarz, up 0.54% from the prior close of EUR 223.05. The company's market capitalization stood at $2.7 trillion as of October 2, 2026, with a 52-week range of $196.00 to $287.20. While Goldman Sachs' price target reflects heavy investment, Amazon's capital spending remains a key factor for future cash flow and profitability.