Google, Constellation Energy Strike Nuclear Power Deal
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Author: Bloomberg Television · Watch on YouTube
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Original language: English
Original video: Google, Constellation Energy Strike Nuclear Power Deal · Channel: Bloomberg Television · 01:37 · Watch on YouTube
Topics: AI infrastructure and hardware, Markets and economy
Summary
Section titled “Summary”Google agreed to a 20-year deal to buy nuclear power from Constellation Energy. The report describes the arrangement as new capacity, with Constellation building it and directing the power to PJM rather than selling directly to the grid. The deal is presented as part of growing energy demand from AI workloads and data centers. The hosts note that new nuclear capacity can take billions of dollars and decades to come online, while many smaller-nuclear projects remain announcements rather than operating power sources.
Key points
Section titled “Key points”- Google agreed to a 20-year deal to buy nuclear power from Constellation Energy.
- The opening report says Constellation will spend more than $4.3 billion to build out capacity; Ed Ludlow later refers to $44.3 billion.
- Ludlow describes the project as new capacity and an example of a hyperscaler going directly to a power generator.
- The new capacity will be passed on to PJM, which Ludlow calls the nation’s biggest utility.
- The segment mentions a nearly 700-megawatt Constellation deal with Amazon the previous week.
- The deal is framed in the context of energy requirements for AI workloads and data centers.
- Ludlow says Constellation is the largest US operator of nuclear-generated energy.
- The discussion says new nuclear capacity requires billions of dollars and multiple decades to come online.
- Ludlow says newer, smaller-form-factor nuclear projects are not yet generating energy or contributing power to grids.
Chapters
Section titled “Chapters”| Start | Chapter | Summary |
|---|---|---|
| 00:00 | Google’s deal with Constellation | The report introduces Google’s 20-year nuclear power agreement and describes the project as new capacity built by Constellation. |
| 00:31 | New capacity and rising power demand | Ludlow explains that the capacity will go to PJM and connects the deal to energy demand from AI workloads and data centers. |
| 01:02 | Nuclear timelines and announced projects | The discussion contrasts the long timeline for new nuclear capacity with smaller nuclear projects that have yet to deliver power. |
Quotes
Section titled “Quotes”Google has agreed to a twenty year deal to buy nuclear power from Constellation Energy. — 00:00
This is new capacity. — 00:00
it’s just case in point of of the energy requirement — 00:31
This is new capacity, which will take billions of dollars and multiple decades to bring online. — 01:02
They are not energy generating. — 01:37
Concepts and entities
Section titled “Concepts and entities”Google, Constellation Energy, Ed Ludlow, PJM, Amazon, Microsoft, Three Mile Island, energia nuclear, data centers
Full transcript (original language)
Section titled “Full transcript (original language)”00:00 Elsewhere in the world of tech turning to deal news, Google has agreed to a twenty year deal to buy nuclear power from Constellation Energy. Constellation will spend more than $4,300,000,000 to build it out. Let’s get the details from Bloomberg tech host Ed Ludlow. Ed, what are the details? Yeah. The main point is this. This is new capacity. Right? It’s the latest example of a hyperscaler or a big tech company going direct to the power generator rather than to the grid. But Constellation’s on the hook, as you said, for $44,300,000,000 and then passes that
00:31 new capacity onto pay… P g… PJM, which is the the biggest utility in in this nation. You know, off Constellation doing almost 700 megawatt deal with Amazon last week. We’ve done a lot on Microsoft and 3 Mile Island, but it’s a very long term agreement, spanning a lot of years. And, it’s just case in point of of the energy requirement, for maybe a new phase of running AI, but but in aggregate, data centers that there are AI workloads.
01:02 Hey, Ed. This is like restarts and revamps of the existing infrastructure, and we all know how long it takes to actually create a new nuclear plant, which is why some of the micronuclear is interesting. But how much more can we really do of the existing infrastructure here? Are we sort of seeing the end of this now, this story? Well, Constellation is the largest US operator of of nuclear generated energy, and that’s why I’m underscoring again. This is new capacity, which will take billions of dollars and multiple decades to bring online. You know, some of the the newer technologies and smaller form factor nuclear that
01:37 you mentioned, a lot of that to this point, the reality of all that is they are press releases. Yeah. They are not energy generating. They’re not contributing to grids, and they’re not loads of power going to data centers. So, you know, it it… Just like building the data centers themselves, we’re tracking all of the announced, but it’s probably smart in in five, ten years’ time to go back and audit of the announced how many projects came to fruition. Ed, thank you so