Research snapshot · 6/29/26

CEGConstellation Energy

HALEU (High-Assay Low-Enriched Uranium)

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WATCH
Conviction●●●○○3 of 5
Research target325.95Snapshot target
Thesis statusINTACTLast reviewed 6/29/26
Market cap93.69BSnapshot value

Constellation owns ~21GW of US nuclear generation — the largest fleet in the country — and is signing AI hyperscaler nuclear PPAs; it is the primary power-layer asset for 24/7 carbon-free electricity serving Physical AI data centers.

Additional hyperscaler nuclear PPA announcements; Three Mile Island restart milestones; Calpine synergy realization; regulatory nuclear extension approvals

Nuclear fleet unplanned outages; IRA nuclear PTC rolled back; AI hyperscaler PPA signings slow

Positive — nuclear renaissance narrative widely covered; Microsoft Three Mile Island deal prominent

Snapshot · 6/29/26

🟢 Lean-Bull · 13F 20+/5- · short↑0.26

Snapshot · 6/29/26