AI Demand Fuels Growth for Power Producers
Constellation Energy (NASDAQ: CEG) and Vistra (NYSE: VST) are thriving from the increasing electricity demand driven by the rapid expansion of the AI market. Over the past three years, Constellation’s stock has surged by 137%, while Vistra’s jumped 330%.
As of 2023, Constellation operates a diverse energy portfolio with a total capacity of 55 GW, enough to power approximately 27 million homes, while Vistra manages 44 GW, also powering around 22 million homes. Both companies benefit from long-term power purchasing agreements with tech giants and tax credits, with Constellation expecting operating earnings to grow by 22%-33% in 2026 and Vistra anticipating a rise in EBITDA by 15%-29% within the same timeframe.
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