Top Energy Stocks Capitalizing on Data Center Power Demand

Key Points

• Constellation Energy owns the U.S.’ largest nuclear power fleet.

• Nuclear power is ideal for data centers because it’s carbon-free and can provide 24/7 power.

• GE Vernova’s backlog has reached $176 billion, showcasing the demand for its hardware.

Constellation Energy (NASDAQ: CEG) operates the largest nuclear power fleet in the U.S. and recently signed a 20-year power purchase agreement with Microsoft (NASDAQ: MSFT) to restart the Three Mile Island facility in Pennsylvania, underscoring the growing demand for reliable, carbon-free energy sources for data centers.

Meanwhile, GE Vernova (NYSE: GEV) focuses on power equipment necessary for these data centers, generating $5 billion in revenue during the first half of the year—more than double its total for last year. With a backlog of $176 billion, GE Vernova’s position in the power supply chain reflects robust infrastructure demand amid rapid data center expansion.