10 AI News You Shouldn’t Miss

3. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 71

Constellation Energy Corporation (NASDAQ:CEG) is an American energy company that generates and sells electricity in the United States. The company is an AI power play, supplying the energy needed to power data centers and AI infrastructure.

On November 5th, analyst David Arcaro from Morgan Stanley maintained a “Buy” rating on Constellation Energy Corporation (NASDAQ:CEG) and kept the price target at $323.00. The buy rating comes from the energy company’s strong financial performance and strategic initiatives. The company has been actively seeking data center deals at its nuclear power sites, demonstrating its commitment to capitalization and expansion.

Morgan Stanley also believes that the negative reaction and weakness in stocks such as in Constellation following the rejection of Talen Energy’s proposal to sell power directly to Amazon’s data center (by the Federal Energy Regulatory Commission) is an “excellent buying opportunity”. The firm considers this as a path toward more nuclear data center deals.