Constellation Energy Jumps Nearly 9% Premarket on Google Nuclear Power Deal

Constellation Energy shares were up about 8.7% at $290.85 in premarket trading at about 8:55 a.m. Eastern time on Tuesday, Oct. 6, according to Yahoo Finance data, after Google agreed to buy power from upgrades at 11 of the company's nuclear reactors. The stock closed Monday at $267.62.

The two companies announced the deal at 6:30 a.m. Eastern time. It follows a Bloomberg News report overnight that the companies were close to an agreement worth $1 billion or more, Reuters reported.

What did Google and Constellation agree?

Google signed a 20-year power purchase agreement for 890 megawatts of new nuclear capacity on the PJM Interconnection grid, the companies said in a joint release. The capacity will come from "uprates," upgrades that let existing reactors produce more power. The 11 units are in Illinois, Pennsylvania and New Jersey.

Google also signed a separate 15-year energy supply agreement for an additional 2,700 megawatts, bringing the total to 3,590 megawatts, Reuters reported. The companies did not disclose prices.

Deal term	Figure
New nuclear capacity (20 years)	890 megawatts
Extra energy supply (15 years)	2,700 megawatts
Reactor units to be upgraded	11
Constellation investment	more than $4.3 billion
First upgrade expected	by 2028
Construction jobs	about 7,200

Source: Google and Constellation joint release, Oct. 6, 2026.

The upgrades will also sustain about 4,400 existing jobs, the companies said. Separately, Constellation picked Google Cloud and Gemini Enterprise for a five-year technology partnership.

Why does Google want nuclear power?

AI data centers need large amounts of electricity around the clock. Nuclear plants can supply it without carbon emissions, and upgrading existing reactors is faster than building new ones, which can take a decade or more, Reuters reported.

"Our agreement with Constellation to fund nuclear reactor uprates will strengthen the PJM grid, which serves 67 million people," said Amanda Peterson Corio, Google's global head of energy and power. Constellation Chief Executive Joe Dominguez said the deal "can serve as a model for how technology companies and the energy industry can work together."

Last week, Amazon agreed to buy 690 megawatts of nuclear power from Constellation, including capacity from an upgrade at the Calvert Cliffs plant in Maryland, according to Reuters.

How did the stocks react?

Constellation shares had already risen 3.9% on Monday, from $257.49 on Friday, according to Yahoo Finance data. Alphabet's Class A shares were up about 0.4% at $347.76 in premarket trading, compared with Monday's close of $346.47.

In other news this morning, the U.S. trade deficit widened to $105.6 billion in August, the Census Bureau said. In Europe, German factory orders plunged 10.6%. For more on the businesses moving markets, see our companies section and our energy section.