Vistra, Constellation Energy Stocks Rise Further on AI Energy Needs [Video]

Shares of nuclear power providers Constellation Energy (CEG) and Vistra (VST) added to their gains of yesterday on optimism of growing demand for electricity by artificial intelligence (AI) data centers.

Constellation Energy shares soared 8.4% Thursday when the company announced it had struck a pair of deals worth more than $1 billion with the federal government’s General Services Administration. One of those involves supplying more than a dozen departments in five states with nuclear energy.

Today, Constellation reported that the Treasury Department has reversed an earlier ruling and will now allow existing nuclear plants to be able to qualify for federal tax credits under the Inflation Reduction Act of 2022. Shares rose 3.5% in recent trading.

The company made headlines in September when it reported that it would restart a unit of Pennsylvania’s Three Mile Island to produce energy for Microsoft’s (MSFT) data centers. That sent shares soaring; they hit an all-time high in early October …