20 Trending AI Stocks on Latest Analyst Ratings and News

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7. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 71

Constellation Energy Corporation (NASDAQ:CEG) generates and sells electricity in the United States. David Tepper of Appaloosa Management has taken aim at companies projecting that nuclear energy will power the AI boom, terming projections in this regard crazy and instead highlighting the potential of natural gas for the purpose. The comments come in the wake of a major rally in Constellation Energy stock following the announcement of a 20-year nuclear deal with tech giant Microsoft. Tepper made the comments during an appearance on news platform CNBC. The hedge fund manager stressed that in order to meet AI power, companies would have to think about using natural gas.

Constellation Energy Corporation (NASDAQ:CEG) will spend nearly $1.6 billion under the Microsoft deal to revive a nuclear plant. The energy firm expects it to come online by 2028. The company is also expecting to renew the license that would extend plant operations to at least 2054.

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