Constellation Energy Stock Jumps on Google Nuclear Power Deal

Constellation Energy's stock jumped as much as 15% on Tuesday, reaching a high of $309.30. The surge partially recovered some of this year's losses, with the stock now down about 14% year-to-date.

The rally came after Constellation announced a landmark 20-year deal with Google. Under the agreement, Google will purchase 3,590 megawatts of nuclear power from Constellation. The deal is expected to drive $4.3 billion in new investment from Constellation and create 7,200 construction jobs for new nuclear facilities to meet the increased demand.

Google and other tech companies have been increasingly turning to nuclear energy as a power source for AI data centers. The deal comes amid concerns about power-grid constraints that could limit the expansion of AI infrastructure. Constellation has established itself as a key nuclear energy provider for major tech firms, previously striking deals with Microsoft in 2024 and Meta in 2025.

While nuclear energy stocks saw a surge in 2025, their momentum has faded this year, with the VanEck Uranium and Nuclear ETF down 11% year-to-date. However, Google's deal with Constellation has provided a fresh boost, with the ETF spiking 5% on Tuesday. Other nuclear stocks, including Oklo, NANO Nuclear Energy, and NuScale Power, also saw gains alongside Constellation.