Vistra, Constellation Energy Stocks Rise Further on AI Energy Needs | Global News Avenue

Shares in nuclear power supplier Constellation Energy (CEG) and Vistra (visual effects) Gains increased further yesterday on optimism about rising power demand Artificial Intelligence (AI) data center.

Constellation Energy shares soared 8.4% on Thursday as the company Announce It struck two deals worth more than $1 billion with the federal government’s General Services Administration. One involves providing nuclear power to more than a dozen sectors in five states.

Today, Constellation reports that the Treasury Department has reversed its previous ruling and will now allow existing nuclear power plants to qualify for federal tax credits under the Federal Tax Credit Act. Inflation Reduction Act of 2022. Shares rose 3.5% in recent trading.

The company made headlines in September report It will restart a unit on Pennsylvania’s Three Mile Island that produces energy for Microsoft Corp. (Microsoft Corporation) data center. That sent shares soaring; they hit an all-time high in early October and are up about 115% over the past year.

Vistra also benefited from the Constellation news, with its share price Yesterday, it surged 8.6% Another 7% increase today, leading the way S&P 500 Index There have been increases on both days. Shares hit an all-time high in November and are up more than 300% over the past year.