Vistra Constellation Energy stock rises further as AI Energy needs increase

The Key Takeaways

• Constellation Energy, Vistra and other nuclear energy companies are seeing their shares rise due to the demand for electricity in artificial intelligence data centres.
• Both companies' shares hit all-time records in the fourth quarter of 2024.
• Constellation plans to restart a unit of the Three Mile Island nuclear plant in Pennsylvania after striking a deal with Microsoft to use the electricity from that plant to power Microsoft's data centers.

On the back of a growing demand for power by AI data centers, shares of Constellation Energy and Vistra added to yesterday’s gains.

Constellation Energy’s shares rose 8.4% on Thursday after the company revealed it had signed two deals totaling more than one billion dollars with the General Services Administration of the federal government. The first involves the supply of nuclear energy to more than 12 departments across five states.

Constellation has reported today that Treasury Department has overturned an earlier ruling. Existing nuclear plants will be eligible for federal tax credit under the Inflation Reduction Act (2022). The shares rose by 3.5% during recent trading.

It made news in September by announcing that the company would restart Three Mile Island, a nuclear power plant located in Pennsylvania to provide energy to Microsoft’s data centers (MSFT). This sent the shares skyrocketing. They reached an all time high in October and are still up 115% since last year.

Vistra also has benefited from the Constellation news, with shares soaring 8.6% yesterday and a further 7% today, leading S&P 500 gainers both days. In November the shares hit a new record and gained more than 300% within a year.

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