These 10 Firms Led This Week’s Rally

3. Constellation Energy Group (NASDAQ:CEG)

Constellation Energy (CEG) saw its share price this week jump by 22.02 percent to end at $305.19 each versus the $250.11 finish the week prior following news that the company is set to acquire geothermal firm Calpine Corp. for a whopping $16.4 billion.

Touted as one of the largest acquisition plans in the history of the US power industry, Constellation Energy’s acquisition plan came at a time when electricity demand continued to rise, driven by the rapid development of the Artificial Intelligence sector which was expected to require a higher power demand for its data centers.

Following the announcement, Constellation Energy CEO Joe Dominguez told investors that demand for energy products “is expected to grow by levels we haven’t seen in a lifetime.”

Upon completion, the deal would make Constellation, currently the largest US nuclear energy producer, into the US’ biggest independent power provider, sharply growing its mix of natural gas-fired electricity generation.