10 AI News You Can’t Miss

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5. 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. Constellation has been one of those stocks that have surged in 2024 as investors have begun to realize the significance of independent power producers’ nuclear and gas assets in powering artificial intelligence. The stock has nearly doubled this year, making it the 10th best-performing stock just behind Broadcom. Shahriar Pourreza, head of power and utilities at Guggenheim Securities, quotes how the rally has only begun, and that investors haven’t even started to “scratch the surface of how much power demand is going to come” from the tech companies boosting their artificial intelligence endeavors. Constellation, in particular, made it strong this year through its landmark deal to restart the Three Mile Island nuclear plant in Pennsylvania and a deal with Microsoft in September.

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