Google has signed one of the largest corporate power agreements in US history. It is buying 3,590 megawatts of electricity from Constellation Energy as it races to secure power for its growing network of AI data centers.
The agreement has two parts. Under a 20-year contract, Google will buy 890 megawatts of new nuclear capacity. That power will come from upgrades to 11 existing reactors across Illinois, Pennsylvania and New Jersey. Nuclear makes up about 25% of the total deal. The first upgraded plant is expected to come online in 2028.
The remaining 2,700 megawatts come through a separate 15-year agreement. That power is not tied to a specific source and will support operations on the PJM grid, the regional network that serves 13 states and Washington, D.C.
To deliver the power, Constellation will invest more than $4.3 billion in upgrades and new capacity across its fleet.
Wall Street reacted quickly. Constellation shares jumped more than 13% to about $304 in Tuesday morning trading.
Why it matters
Electricity has become one of the biggest limits on AI growth. PJM is facing a power shortfall and has proposed a "bring your own power" rule that would make new data centers secure their own supply. Deals like this one put Google ahead of that requirement.
Upgrading existing reactors is also faster and less risky than building new plants. It adds carbon-free capacity without the decade-long timelines of new construction.
The deal follows similar moves by other tech giants, including Microsoft's agreements with Constellation and NextEra Energy, as the industry competes for reliable long-term power.
