Alphabet Inc. signed a 20-year power-purchase agreement with Constellation Energy on 6 October 2026, committing to buy nuclear power across 11 of Constellation's U.S. reactors. The deal is structured to drive more than $4.3 billion in investments to upgrade systems at those facilities, with one source reporting total contracted capacity of 3.6 GW. The agreement is described as one of the largest corporate nuclear power procurement deals in the U.S. electricity market, tied directly to Alphabet's data centre and AI infrastructure energy requirements.
Constellation Energy's stock surged following the announcement, according to reporting from the date of the deal. No specific price level or percentage move was confirmed across the cluster sources for Alphabet's shares.
Constellation Energy (CEG) is the direct counterparty supplying nuclear capacity under the agreement and received the market reaction reported on 6 October. Alphabet's listed shares (GOOGL, GOOG) represent the purchasing entity committing to the 20-year contract and the associated capital deployment across Constellation's reactor fleet.
No official regulatory statement or government response to the agreement was reported in the cluster sources. The deal spans reactors located within PJM grid states, with one source specifying 890 MW of new nuclear capacity attributed to that grid region.
Sources: Bloomberg Markets, Cnbc TOP, Marketwatch TOP