In a stunning reversal of decades-long decline, America's nuclear power industry is experiencing a renaissance—and Silicon Valley is writing the checks. Driven by the insatiable energy demands of artificial intelligence, the world's largest technology companies have pivoted from being mere consumers of renewable energy to becoming the primary financiers of a new atomic age.

The Deals Reshaping the Energy Landscape

The numbers are staggering. Microsoft has secured 100% of the Crane Clean Energy Center's 835-megawatt output—formerly known as Three Mile Island Unit 1—through a 20-year power purchase agreement with Constellation Energy. The facility, which carries the weight of America's most infamous nuclear accident at its sister plant, is now 80% staffed and on track to deliver power by early 2027.

Amazon Web Services has pushed even further, expanding a long-term deal with Talen Energy to supply up to 1,920 megawatts of electricity from the Susquehanna nuclear plant through 2042. The arrangement gives AWS guaranteed access to carbon-free baseload power as its cloud and AI operations consume ever more electricity.

"We've moved from an era where tech companies bought renewable energy credits to one where they're financing entire power plants. The scale of what's happening is unprecedented in the history of corporate energy procurement."

— Energy industry analyst

Meta Platforms joined the atomic rush in June 2025, signing a 20-year agreement with Constellation Energy for 1.1 gigawatts of nuclear power to supply its Illinois AI data centers beginning in 2027.

Why Nuclear, Why Now

The rapid ascent of generative AI has triggered an electricity demand surge that renewable sources alone cannot satisfy. Data centers require continuous, reliable power—the kind that solar and wind, with their inherent intermittency, struggle to provide at scale. Nuclear offers what AI needs: gigawatt-scale, carbon-free, 24/7 baseload power.

The Federal Energy Regulatory Commission projects U.S. data center electricity demand will climb to 35 gigawatts by 2030, up from 19 gigawatts in 2023. Training a single large language model can consume as much electricity as a small city uses in a year. The math simply doesn't work without nuclear in the mix.

The Policy Tailwind

President Trump has issued four executive orders aimed at accelerating the nuclear revival, including measures to modernize regulatory frameworks, expedite reactor approvals, and expand the domestic nuclear industrial base. The administration's target: increasing U.S. nuclear capacity from approximately 100 gigawatts today to 400 gigawatts by 2050.

These policy moves have created a more favorable environment for both existing plant life extensions and new reactor construction, though critics argue that even streamlined regulatory processes cannot overcome nuclear's fundamental challenges of high upfront costs and long construction timelines.

Investment Implications

The nuclear revival has already generated substantial returns for investors who positioned early. Constellation Energy's stock has gained 62% year-to-date, with its market capitalization swelling to approximately $111 billion. The company raised its dividend by 10% in 2025 following a 25% boost in 2024, and analysts project adjusted earnings growth of 9% for 2025 and 26% for 2026.

Vistra Energy, which operates the largest competitive nuclear fleet in the country, has seen similar enthusiasm from investors betting on continued data center demand. Talen Energy, despite being smaller, has benefited from its strategic AWS relationship.

Wall Street remains largely bullish on the sector. Analysts from Wells Fargo, Morgan Stanley, Seaport Global, and Oppenheimer have reiterated Buy ratings on major nuclear utilities, with price targets pointing to double-digit upside potential.

The Risks Worth Watching

Nuclear's comeback is not without hazards. Regulatory uncertainty remains significant, particularly around issues like reactor life extensions and new plant permitting. Public perception of nuclear power, while improving, still carries the legacy of Three Mile Island, Chernobyl, and Fukushima.

There's also the question of whether technology companies will maintain their commitment to nuclear if AI demand growth slows or if alternative power sources become more competitive. Long-term power purchase agreements provide some protection, but the 20-year horizons involved introduce considerable uncertainty.

The Bottom Line

The nuclear renaissance represents one of the most significant shifts in American energy policy and corporate energy strategy in decades. For investors, it offers exposure to a sector benefiting from both the AI boom and the broader energy transition—a rare combination of growth catalyst and infrastructure stability.

Whether this atomic revival fulfills its promise will depend on execution, regulation, and whether Big Tech's AI ambitions can sustain the demand that's driving the entire movement. For now, the smart money is betting that the answer is yes.