Google, Constellation near $1 billion-plus nuclear power deal, Bloomberg reports

Alphabet Inc., the parent company of Google, is reportedly close to finalizing a multi-year deal worth $1 billion or more with Constellation Energy to purchase nuclear power. The agreement, as per people familiar with the talks, may be announced this week, according to Bloomberg. The specific details of the power capacity and its location have not been disclosed by the report.

The deal is timely, as the increasing energy demands of Google's data centers are reigniting interest in nuclear power, which provides continuous, emission-free electricity. Similar agreements have been made recently, such as Amazon's purchase of 690 megawatts of nuclear power from Constellation, including an upgrade to its Calvert Cliffs nuclear facility in Maryland.

Google has already established relationships with other nuclear power producers like NextEra Energy and Southern Co., with plans to support its data center expansion and reduce carbon emissions. The surge in nuclear power deals is part of a broader global resurgence in nuclear energy, driven by the need for reliable, low-carbon energy sources amid growing data center demand and governments' efforts to curb emissions.