CEG ~+3% overnight: Bloomberg says Google nears $1B+ multi-year nuclear power deal with Constellation

[LondonNewsTrader]

Another AI-power headline for the utilities/nuclear basket. Bloomberg reported late Monday (picked up by Reuters) that Alphabet is close to a multi-year agreement to buy nuclear energy from Constellation Energy (CEG), worth $1B or more over the life of the contract. It could be announced as soon as this week. Size in MW and which plant(s) are involved weren't disclosed; both companies declined to comment. CEG was up roughly 3% in overnight trading.

Background: Constellation is the largest US reactor operator and already has power deals with Microsoft and Amazon. Google has nuclear arrangements with NextEra (Duane Arnold restart in Iowa) and Southern Co (plant upgrades, signed last month). This lands a day after the reported DOE loan for Vistra's nuclear uprate, so the whole group (CEG, VST, TLN, NRG, OKLO/SMR on sentiment) is getting attention again.

Scalper read: "near a deal" plus no MW figure is a classic set-up for a gap that fades unless the actual announcement comes with detail. I'd watch whether CEG holds above Monday's close after the first 30 minutes; a clean hold says the street believes the deal is coming. Also keep an eye on the 10y at ~5.3% — rate-sensitive utilities don't love that, so sympathy names may lag.

Sources (public): Bloomberg via Reuters / StreetInsider, 5–6 Oct; Stocktwits overnight coverage.

Are you playing CEG directly or using VST/TLN as the sympathy trade? And does $1B over multiple years actually move the needle for a company this size?