Google Signs Nuclear Power Deal With Constellation Energy Worth Over $4.3 Billion

CNBC··US·Read original
3▲9 ▼0Impact / 5
Summary · why it matters

Google announced a major long-term power agreement with Constellation Energy, under which it will buy power tied to 890 megawatts of new nuclear capacity alongside a separate 2,700-megawatt supply agreement, supporting more than $4.3 billion in new Constellation investment. Constellation Energy shares jumped more than 6% premarket on the news, while Alphabet rose about 0.5%. Separately, Option Care Health shares surged more than 20% following a Financial Times report that McKesson and private equity firm Clayton Dubilier & Rice are in advanced talks to jointly acquire the infusion services provider in a transaction valued at more than $5 billion; McKesson stock is up 1.5%. Berkshire Hathaway disclosed in a regulatory filing that it purchased about 2.4 million shares of Lennar, sending Lennar up 1.5%. NeoGenomics rose 5% after announcing that current President and COO Warren Stone will take the helm from Tony Cook in January 2027, and reporting preliminary third-quarter total revenue of $209 million, topping the $205.9 million consensus estimate, per FactSet. Advanced Micro Devices rose nearly 2% after Citi raised its price target to $800, citing greater CPU demand driven by Meta's Muse AI agent, while Procter & Gamble rose 1.2% on an Evercore ISI upgrade to outperform and a price target increase to $166 from $161, and Corteva rose nearly 3% after JPMorgan upgraded the stock to overweight from neutral with a $19 price target.

Impact on assets 14

Energy Transition & Power Demand▲
Constellation Energy Corp
CEG
▲ PositiveDemandrelevance

Google signed a long-term power agreement with Constellation for 890 MW of new nuclear capacity plus a 2,700 MW supply deal, supporting over $4.3 billion in new Constellation investment.

Artificial Intelligence▲
Alphabet Inc Class C
GOOG
▲ PositiveDemandrelevance

Alphabet's Google signed a major long-term nuclear power purchase agreement with Constellation to supply its operations.

Advanced Micro Devices Inc
AMD
▲ PositiveCapitalrelevance

Citi raised AMD's price target to $800, citing greater CPU demand from Meta's Muse AI agent.

Digital Finance & Tokenization▲
Aging Population▲
Option Care Health Inc
OPCH
▲ PositiveCapitalrelevance

Option Care Health surged over 20% on an FT report that McKesson and Clayton Dubilier & Rice are in advanced talks to acquire it for over $5 billion.

Health Care▲
McKesson Corporation
MCK
▲ PositiveCapitalrelevance

McKesson is in advanced talks to jointly acquire Option Care Health in a deal valued over $5 billion, with its stock up 1.5%.

Biotech & Genomic Medicine▲
NeoGenomics Inc
NEO
▲ PositiveCapitalrelevance

NeoGenomics rose 5% after announcing a CEO succession and preliminary Q3 revenue of $209M topping the $205.9M consensus.

Consumer Staples▲
Procter & Gamble Company
PG
▲ PositiveCapitalrelevance

Procter & Gamble rose 1.2% on an Evercore ISI upgrade to outperform and a price target increase to $166 from $161.

Consumer Discretionary▲
Lennar Corporation
LEN
▲ PositiveCapitalrelevance

Berkshire Hathaway disclosed purchasing about 2.4 million Lennar shares in a regulatory filing.

Synthetic Biology (non-pharma)▲
Corteva Inc
CTVA
▲ PositiveCapitalrelevance

JPMorgan upgraded Corteva to overweight from neutral with a $19 price target.

Financials▲
Spatial Computing / AR/VR▲

Off-coverage companies 1

Clayton Dubilier & Ricei
Private± Mixedrelevance