35 AI Superstars According to Goldman Sachs

21. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 71 

Constellation Energy Corporation (NASDAQ:CEG) generates and sells electricity in the United States. Latest reports, published by the Washington Post, indicate that the company is seeking a $1.6 billion federal loan guarantee to help finance its plan to restart the Three Mile Island nuclear plant and sell the electricity to Microsoft to AI power data centers. Per the report, the firm made the first approach for the loan to the US government back in May. The initial review for the loan has been cleared and the two parties are now negotiating specific terms of the deal. The Three Mile plant was shut down in 2019 and sits next to the unit that has been dormant since a partial meltdown in 1979, but the restart plan has sparked controversy over the merits of providing separate federal subsidies for the project in the form of tax credits.

Per the report, if the loan guarantee is successful, Constellation Energy Corporation (NASDAQ:CEG) would save close to $122 million in borrowing costs. When combined with the tax credits from the sale of power under the Inflation Reduction Act, the total savings could be as much as $200 million per year for CEG and Microsoft.