Constellation Energy shares jump 15% on Nasdaq after long-term 890 MW nuclear power deal with Google

One of the largest US-based nuclear power operators, Constellation Energy shares rallied 15% on Nasdaq on Tuesday, October 6, as equity investors focused on the company’s latest long-term nuclear power deal, which is set to meet the growing demand and increase grid reliability.

MarketWatch data showed that Constellation Energy’s stock surged nearly 15% to hit the early market high of $307.42 apiece on Tuesday’s market, in comparison to $267.62 apiece at the previous Wall Street close.

During the pre-market hours on Oct. 6, the exchange data showed that Constellation Energy shares surged 10% to hit a high of $294.39 apiece on Tuesday, when compared to the previous US equity market close.

Before the market open on October 6, the company’s shares were trading 7.8% higher at $288.20 apiece as investors were reacting to the clean energy collaboration to bring 890 megawatts (MW) of new, reliable nuclear capacity onto the PJM Interconnection grid.

Earlier, Amazon also carried out a similar deal with Constellation, where the e-commerce major agreed to purchase 690 megawatts of power from the clean energy company for its data centres.

Google-Constellation Energy deal

As per the details of the deal, the 20-year power purchase agreement between Google and Constellation Energy will enable investments in new equipment and technology at 11 Constellation-owned nuclear units in Illinois, Pennsylvania, and New Jersey, increasing thermal and electrical efficiency to unlock additional reliable, firm power to serve the grid.

“The agreement helps sustain roughly 4,400 existing jobs, creates approximately 7,200 new construction jobs during the building period and represents more than $4.3 billion of new investment by Constellation,” as per the official statement.

Along with expanding the nuclear energy deal, Constellation Energy and Google entered into a 15-year energy supply agreement for an additional 2,700 MWs in PJM's fleet, a move which is estimated to ensure the energy producer’s operating generation assets to continue deliver energy and capacity to the PJM market.

In exchange, Google will establish an “AI for energy” blueprint through its Cloud and Gemini Experience, under an expanded five-year technology alliance which will accelerate capacity delivery, optimise asset dispatch, and protect critical infrastructure.

Through this deal, Constellation will expand its direct energy supply and the first update is expected to be delivered by 2028.

“By pairing commercial investments in nuclear uprates with advanced Google technologies, this agreement supports the rapid growth of artificial intelligence and digital infrastructure that directly strengthens the resilience, affordability, and sustainability of the power grid for decades to come,” the company said in its statement.

Constellation Energy share performance

The exchange data showed that Constellation Energy shares have delivered more than 556% returns to investors since the company’s listing back in February 2022, but the stock has lost 17% in the past one year period.

Although Constellation Energy shares have declined 17% on a year-to-date (YTD) basis in 2026, they have gained 10% in the last six months.

Nasdaq data showed that clean energy shares have risen 1.4% in one month and were trading 16% higher on a five-market-session basis.

Shares of Constellation Energy surged to their 52-week high of $412.70 apiece, while the 52-week low was at $228.63 apiece on Tuesday’s market.

The company’s market capitalisation (m-cap) was at $94.82 billion as of the trading session on Tuesday, October 6, 2026.