Jim Cramer Talked About These 9 Nuclear Power and Quantum Computing Stocks

4. Constellation Energy Corporation (NASDAQ:CEG)

Number of Hedge Fund Holders: 78

While Cramer mentioned Constellation Energy Corporation’s (NASDAQ:CEG) advances related to nuclear power, he mentioned that the stock is ahead of itself.

“Right now, there are two utilities that generate a lot of nuclear power, Vistra and Constellation Energy, the latter of which just got a big contract with the feds, $1 billion, to expand a nuclear site. The big utilities are frantically trying to meet power demand generated by the data center revolution. I think these two stocks are now way ahead of themselves. They trade like they’ll be able to build many nuclear reactors next to the currently approved ones because siting won’t be difficult.

Oh, that’s true but building them will be. It takes ages to construct one of these things, big overruns. Constellation’s reopening a decommissioned Three Mile Island plant with Microsoft signing a contract for 20 years worth of power. That does sound great, but I think the process of restarting a dead nuclear power plant won’t be easy. But hey, at least Constellation and Vistra’s real, even if their stocks have gotten overextended.”

Constellation (NASDAQ:CEG) is a U.S. energy company that generates and sells electricity, utilizing a diverse mix of nuclear, wind, solar, natural gas, and hydroelectric resources. It has a significant presence in the nuclear energy sector, as highlighted by its performance in the third quarter when it generated more than 41 million megawatt-hours from its nuclear plants.

In January, the company secured a big contract with the U.S. government, being awarded $1 billion in agreements to supply nuclear power to federal agencies. According to the U.S. GSA, the deal, which will start on April 25, is set to provide more than 10 million megawatt-hours of electricity over a 10-year period. The agreement also offers Constellation the opportunity to extend the operational life of its current nuclear plants, while allowing for investments in new equipment and technology to boost output by around 135 megawatts.

Constellation’s (NASDAQ:CEG) nuclear energy capabilities have recently been further strengthened by a long-term power purchase agreement with Microsoft. In 2024, Microsoft entered into a 20-year deal with the company to help fund the revival of the Three Mile Island nuclear plant, located near Harrisburg, Pennsylvania. This agreement is integral to the development of the Crane Clean Energy Center, which will serve to generate 835 megawatts of carbon-free energy. This energy will be used to power Microsoft’s data centers within the PJM interconnection.