The deal is the largest-ever “uprate” project, one that squeezes more power out of existing reactors, between a nuclear power provider and a tech company.

Alphabet‘s (NASDAQ:GOOGL | GOOGL Price Prediction) Google is paying to get more output from nuclear reactors that already run. Stocks rallying hardest on the news belong to companies whose reactors don't exist yet.

Alphabet has agreed to buy 20 years of nuclear power from Constellation Energy, covering 890 megawatts of new power that Constellation will spend $4.3 billion to bring online on the PJM grid. Yahoo Finance Host Julie Hyman, Breaking Business News Reporter Jake Conley and Senior Autos Reporter Pras Subramanian break down Big Tech's growing list of nuclear deals, why power has become one of the AI buildout's biggest bottlenecks, why behind-the-meter power may only temporarily ease stress on the grid, and why utility stocks, including Constellation, are lagging the rest of the AI infrastructure trade.

Constellation Energy (CEG) shares are ripping higher on October 6th after management announced a massive clean energy partnership with Google. The agreement will see Google invest in nuclear uprates across 11 of CEG facilities in three states.

The most interesting thing about Constellation Energy Corp‘s (NASDAQ:CEG) latest AI-power deal is not simply that Alphabet Inc‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google needs more electricity.

Google Cloud just posted 82% revenue growth while the stock sits nearly 16% below its 52-week high, and the gap between what Wall Street sees and what the market is pricing in keeps widening.

With their massive user bases, powerful network effects, and huge profits, it's hard not to appreciate how dominant these two companies are. Meta trades at a slight discount to Alphabet on a forward price-to-earnings basis.

The AI lab's plan for spending over the next decade highlights how much the AI build-out will cost.

Google parent Alphabet Inc. agreed to buy nuclear power from Constellation Energy in a 20-year power-purchase agreement that will drive more than $4.3 billion in investments to upgrade systems at 11 Constellation reactors. Ed Ludlow has more on "Bloomberg Open Interest.

Oklo Inc. (NYSE:OKLO) shares are trading higher Tuesday as nuclear stocks rally after Alphabet Inc. (NASDAQ:GOOG) signed a 20-year agreement with Constellation Energy Corp. (NASDAQ:CEG) to add 890 megawatts of nuclear capacity to the PJM Interconnection grid.