10 AI News Investors Shouldn’t Miss

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6. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 78

Constellation Energy Corporation (NASDAQ:CEG) is an energy provider specializing in clean, carbon-free energy solutions. From global electrification initiatives to accelerating demand for artificial intelligence infrastructure, the utility sector ETF (XLU) has gained nearly 20% in 2024. In particular, one of the strongest performers in the sector has been Constellation Energy, which is up 95% year-to-date. On December 20, Morgan Stanley analyst David Arcaro maintained a Buy rating on Constellation Energy Corporation and set a price target of $321.00. Analysts are bullish on the stock largely because of the company’s strategic position to prosper from the rising energy demand and aspiration from major hyperscalers to land deals with nuclear power for AI data centers. They are also positive about gaining some regulatory clarity regarding placing data centers at nuclear power plants. This is currently not reflected in Constellation’s stock price.

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