Google Signs First Nuclear Deal, Extends Aging Reactor in Finland

Google, the world's largest AI spender, has signed its first nuclear deal ever. The company inked a partnership with Fortum to extend the life of an existing reactor at the Loviisa nuclear plant in Finland until 2050.

The deal is worth a significant investment, with Fortum planning to spend around 1 billion euros on life extension and uprate projects. This move comes just six days after Jim Cramer warned investors that building a new nuclear power plant is 'a lot harder' than the market appreciates.

Cramer's warning seems vindicated in part, as Google chose to invest in keeping an old reactor running rather than building a new one. The company paired this deal with a clean-energy package, including 629 MW of contracted onshore wind and demand response capabilities.