Alphabet Nears $1 Billion Nuclear Power Deal With Constellation

Alphabet is nearing a multiyear agreement to buy nuclear power from Constellation Energy for at least $1 billion, according to a report citing people familiar with private discussions. The companies have not confirmed a deal, and its power volume, supplying plants and detailed terms have not been disclosed. The agreement could be announced as soon as the week of October 5, the report said. Constellation declined to comment, while Google did not provide comment in the supplied coverage. No signed contract or formal announcement has been cited, leaving the reported agreement’s status uncertain. The proposed purchase would add to Google’s efforts to secure electricity for its data centers as demand rises with the expansion of artificial intelligence computing. Nuclear plants can provide steady power, a characteristic that has drawn interest from technology companies seeking reliable electricity. The reported deal’s scale cannot be assessed without details on capacity, duration and which facilities might supply it. Constellation has recently entered into other power arrangements with technology companies.