Google's Nuclear Deal Sparks Hope for Industrial Stocks

Google has struck a deal with Georgia Power to boost its capacity at two nuclear plants in the state. The upgrades, which will add 96 MW of new capacity, are expected to support the construction of new data centers for the tech giant.

The agreement also shields residential and industrial customers from the costs associated with these upgrades, making it a win-win situation for both Google and Georgia Power.

Two other industrial stocks that could benefit from this deal are GE Vernova and Brookfield Renewable Corporation. GE Vernova's nuclear business has a significant presence at Georgia Power's Hatch plant, where it provides reactor services, engineering support, and nuclear fuel advancements.

Brookfield Renewable, through its Westinghouse unit, built the pressurized water reactors used across all four units at Georgia Power's Vogtle plant. As such, any major upgrades at Vogtle should generate tailwinds for Westinghouse and boost Brookfield's earnings.