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<ul class="summary-list"><li>Nuclear-power stocks fell after regulators voted against a deal between Amazon and Talen Energy.</li><li>The deal would permit a Talen nuclear plant to provide an Amazon data center with extra power.</li></ul>Nuclear-power stocks slumped on Monday after US regulators barred a plant from supplying extra power to an <a target="_blank" href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> data center.The Federal Energy Regulatory Commission rejected the deal between Amazon and <a target="_blank" href="https://markets.businessinsider.com/stocks/tln-stock">Talen Energy</a> late last week. According to FERC Commissioner Mark Christie, approving the proposal would <a target="_blank" href="https://www.ferc.gov/news-events/news/commissioner-christies-concurrence-pjms-susquehanna-co-location-proposal-er24-2172">spark consequences for grid reliability and consumer costs</a>.Talen dropped as much as 8.6% on Monday, unleashing a broader downturn in the nuclear power sector. <a target="_blank" href="https://markets.businessinsider.com/stocks/vst-stock">Vistra</a> slid 6.7% at intraday lows, while <a target="_blank" href="https://markets.businessinsider.com/stocks/ceg-stock">Constellation Energy</a> tanked 13%.These firms have gained sharply as AI data centers have driven US <a target="_blank" href="https://markets.businessinsider.com/news/commodities/ai-power-grid-demand-utility-bill-outlook-electricity-ev-2024-7">power demand to new heights</a>. In recent months, tech companies have come to embrace nuclear power to run these centers, fueling underlying equities.Both Vistra and Constellation are among the top S&amp;P 500 performers this year. In a similar fashion to Talen, Constellation reached a 20-year deal with <a target="_blank" href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a> to power its data center inBut the FERC's decision sets a precedent that could challenge nuclear data center deals."FERC's decision will have a chilling effect on economic development in states such as Pennsylvania, Ohio, and New Jersey," Talen <a target="_blank" href="https://ir.talenenergy.com/news-releases/news-release-details/talen-energy-statement-ferc-order-rejecting-susquehanna-isa">said in a statement</a>.According to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-04/us-power-stocks-slump-after-regulator-rejects-nuclear-agreement">Bloomberg</a>, the firm was already paid $650 million in March by Amazon Web Services for a data center campus next to the Pennsylvania plant at issue. AWS also signed a long-term deal to purchase power from the plant.Other nuclear equities also suffered on Monday, with the Sam Altman-backed firm <a target="_blank" href="https://markets.businessinsider.com/stocks/oklo-stock">Oklo</a> and <a target="_blank" href="https://markets.businessinsider.com/stocks/nne-stock">Nano Nuclear Energy</a> both falling by double-digits.

Nuclear-power stocks slide after regulator rejects plan to power Amazon data center

<ul class="summary-list"><li>Tech giants like Amazon and Microsoft are striking nuclear power deals for their AI data centers.</li><li>The nuclear power resurgence is driven by clean energy demand and AI's soaring power needs.</li></ul>The nuclear power industry <a target="_blank" class="" href="https://www.businessinsider.com/amazon-google-microsoft-openai-big-tech-investment-nuclear-ai-race-2024-10">is undergoing a renaissance</a> as demand for clean power soars across the country, partly driven by the soaring energy needs associated with artificial intelligence data centers.Mega-cap technology companies, including <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/googl-stock">Alphabet</a>, have inked nuclear power deals to feed their growing energy needs as AI becomes a bigger part of their businesses. One utility company is even restarting the Three Mile Island nuclear power plant after inking a 20-year deal to sell the power to Microsoft.Three Mile Island, located on the Susquehanna River in Pennsylvania, was the site of the country's worst nuclear accident in 1979.Meanwhile, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">Amazon has led a $500 million financing round</a> for a company developing modular nuclear reactors and purchased a nuclear-powered data center in March for $650 million."One of the fastest ways to address climate change is by transitioning our society to carbon-free energy sources, and nuclear energy is both carbon-free and able to scale—which is why it's an important area of investment for Amazon," Amazon Web Services CEO, Matt Garman, said in a press release.Analysts on Wall Street are encouraged, too. "The nuclear energy projects involve the construction of several Small Modular Reactors (SMRs), a compact, advanced type of reactor that can be built closer to grids and completed faster than traditional reactors. SMRs also offer the potential to reduce carbon emissions, paving the way for cleaner, more sustainable energy," CFRA analyst Arun Sundaram said in a note last week.He added: "With the full power of AI dependent on both data centers and energy infrastructure, these investments further help AMZN secure its positioning as a leading cloud/AI provider."The resurgence in nuclear power has led to big moves on Wall Street, with some stocks more than doubling in just a few days this month.From utility companies to uranium miners to small-scale nuclear developers, these stocks are soaring amid the revival of America's nuclear power industry.7. Cameco<div type="image" title="CCJ stock" height="568" width="671" msid="114593576" hostid="261" sizebytes="23410"></div>Ticker: <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/ccj-stock">CCJ</a> Market value: $23.6 billion YTD Performance: +25%6. BWX Technologies<div type="image" title="BWXT stock" height="595" width="682" msid="114593572" hostid="261" sizebytes="21428"></div>Ticker: <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/bwxt-stock">BWXT</a> Market value: $11.3 billion YTD Performance: +62%5. Oklo<div type="image" title="OKLO stock" height="590" width="674" msid="114593573" hostid="261" sizebytes="18650"></div>Ticker: <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/oklo-stock">OKLO</a> Market value: $2.4 billion YTD Performance: +88%4. Constellation Energy<div type="image" title="CEG stock" height="610" width="680" msid="114593579" hostid="261" sizebytes="23222"></div>Ticker: <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/ceg-stock">CEG</a> Market value: $83.5 billion YTD Performance: +128%3. Vistra<div type="image" title="CEG stock" height="570" width="676" msid="114593574" hostid="261" sizebytes="22818"></div>Ticker: <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/vst-stock">VST</a> Market value: $43.0 billion YTD Performance: +224%2. Nano Nuclear Energy<div type="image" title="NNE stock" height="588" width="677" msid="114593578" hostid="261" sizebytes="21170"></div>Ticker: <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nne-stock">NNE</a> Market value: $589.6 million YTD Performance: +272%1. NuScale Power<div type="image" title="SMR stock" height="567" width="676" msid="114593570" hostid="261" sizebytes="21064"></div>Ticker: <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/smr-stock">SMR</a> Market value: $1.8 billion YTD Performance: +481%

Nuclear power stocks are soaring amid an AI energy push. Here are 7 names to watch.

<ul class="summary-list"><li>The artificial intelligence boom is straining America's power grid. </li><li>AI queries can use 30 times more energy than traditional searches, massively escalating power demand.</li></ul>First <a target="_blank" href="https://www.businessinsider.com/electric-car-wont-overload-electrical-grid-california-evs-2022-10">it was electric vehicles.</a> Then <a target="_blank" href="https://www.businessinsider.com/bitcoin-mining-electricity-usage-more-than-google-2021-9">it was bitcoin.</a> Now its AI.All three trends have sparked ongoing concerns about the power-hungry nature of new technologies as they push America's shaky power grid to the limit.It appears that the AI boom, which is still in its early days, might be the biggest stressor on the country's electric grid.That's because mega-cap tech companies are spending hundreds of billions of dollars on power-hungry AI-enabled GPU chips, which are housed in massive data centers <a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-stocks-to-invest-artificial-intelligence-data-center-energy-companies-2024-6">that require state-of-the-art cooling technologies to dissipate the heat generated from the computers.</a>AI research company Hugging Face has estimated that generative AI search queries <a target="_blank" href="https://www.scientificamerican.com/article/what-do-googles-ai-answers-cost-the-environment/">can use 30 times as much energy</a> as a traditional Google search.And with hundreds of millions of users already interacting with AI tools like ChatGPT, the power demand for AI technologies is only set to rise.<a target="_blank" href="https://markets.businessinsider.com/stocks/bac-stock">Bank of America</a> put into perspective the challenges faced by the power grid as it grapples with surging demand from AI data centers."Manufacturing, data centers, artificial intelligence, and the push for electrification are expected to add massive demand to an already-tight electrical grid. Intermittent wind and solar cannot provide the needed power and tight supplies could lead to higher prices, bottlenecks, and outages," Bank of America said in a recent note.Some eye-opening stats about the US power grid cited by Bank of America include: <ol><li>"The US grid produces 1,250 gigawatts (GW) of electricity from 9,200 generating units. Sometimes called 'the world's largest machine,' the American power grid has 600,000 miles of transmission lines, enough to wrap around the Earth 24 times. The average age of transformers, transmission lines, and other grid equipment is 40-50 years old."</li><li>"Demand is rising for the first time in a decade. Over the past ten years, power demand rose just 0.4% per year. Over the next decade, the growth rate is expected to be 2.1% to 2.8%. Expected future demand of 70 GW by 2030 is like adding another state of Michigan to the grid every year."</li><li>"Supply is tight and hard to add. No major utility projects are expected before 2026, and 160GW of fossil fuel supply has been shut in the past decade. Regulatory, permitting, and political obstacles often thwart new energy and mining efforts. Our colleagues expect only 55-60GW of capacity to be added in the near future."</li><li>"Wind and solar struggle to make up the difference. They run only 24-40% of the time, producing much less than 'nameplate' capacity figures would suggest. Adding batteries brings extra strain: battery storage is 141 times more expensive than liquefied natural gas, and every KWh of battery storage required 50KWh of energy to create it."</li></ol>Baird managing director and tech strategist Ted Mortonson <a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-stocks-hardware-vs-softare-tech-performace-nvidia-tsmc-broadcom-2024-6">told Business Insider last month</a> just how big of a problem the power demand of AI is."The cost of that Gen AI architecture is freaking out of control. Oracle on their conference call basically said they are now constructing 70 megawatt data centers, going to 200 megawatts. That's the size of a city. So, they're so power hungry," Mortonson said. Oracle announced in its earnings call in March that it would invest $10 billion to expand data center capacity in order to service the huge demand for generative AI. <a target="_blank" href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> woke up to this realization earlier this year, evidenced by its decision to <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">buy a nuclear power plant in Pennsylvania for $650 million.</a>A recent report from The Wall Street Journal said that Amazon's cloud unit is nearing a deal with Constellation Energy for electricity that would be directly supplied from a nuclear power plant on the East Coast.This demand boom has led to a renaissance in utility stocks, with the sector surging 8% so far this year, and <a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-stocks-to-buy-electricity-demand-benefit-utilities-data-centers-2024-5">Goldman Sachs believes the gains can continue.</a>"While investor interest in the AI revolution theme is not new, we believe downstream investment opportunities in utilities, renewable generation and industrials whose investment and products will be needed to support this growth are underappreciated," Goldman Sachs said in a note earlier this year.The bank <a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-stocks-to-buy-electricity-demand-benefit-utilities-data-centers-2024-5">highlighted four top utility stocks to buy,</a> including Xcel Energy, NextEra Energy, Southern Co., and Sempra."US power demand likely to experience growth not seen in a generation. Not since the start of the century has US electricity demand grown 2.4% over an eight-year period, with US annual power generation over the last 20 years averaging less than 0.5% growth," Goldman Sachs said.

The AI boom will push America's shaky power grid to its limit

<ul class="summary-list"><li>Russia launched a "massive" attack on Ukraine's power grid overnight.</li><li>Russia has increasingly targeted Ukrainian energy infrastructure as the war has progressed.</li></ul>Russia launched a "massive" attack on Ukraine's power grid overnight as it continues to target the country's energy infrastructure, <a target="_blank" href="https://t.me/energyofukraine/2463">Ukraine's energy ministry announced on Telegram</a>.The latest attack marks the eighth time Russian forces have targeted Ukraine's power grid since March, the ministry added.Ukraine's air force <a target="_blank" href="https://t.me/kpszsu/15703">said</a> Russia launched 16 missiles and 13 drones in the attack, which targeted a number of different regions.While the air force said Ukraine's air defense systems were able to take down 12 of the missiles and all of the drones, two workers were injured in strikes in Zaporizhzhia in southeastern Ukraine, and some equipment was damaged.Russian targeting of Ukrainian energy infrastructure has also caused mass blackouts across Ukraine this year.Russia has switched up its tactics from previous attempts to attack the power grid, aiming to <a target="_blank" href="https://www.atlanticcouncil.org/blogs/ukrainealert/russian-bombardment-of-ukraines-power-grid-may-force-millions-to-flee/">strike energy generation infrastructure</a> instead of electricity substations."We urgently need to close our skies or Ukraine faces a serious crisis this winter," Maxim Timchenko, the CEO of DTEK, a Ukrainian energy company, said following the latest attacks, per the <a target="_blank" href="https://www.bbc.co.uk/news/articles/czvvj4j4p8ro">BBC</a>. "My plea to allies is to help us defend our energy system and rebuild in time."Ukrainian President Volodymyr Zelenskyy has urged Ukraine's allies to provide more air defense systems as his forces attempt to repel such attacks, <a target="_blank" href="https://www.reuters.com/world/europe/ukraine-needs-least-seven-patriot-air-defence-systems-zelenskiy-tells-nato-2024-04-19/">saying</a> they required at least "seven more 'Patriots' or similar air defense systems."Ivan Fedorov, the governor of Zaporizhzhia, echoed this in a post on <a target="_blank" href="https://t.me/ivan_fedorov_zp/8596">Telegram</a> following the latest attack."At night, Russians attacked Zaporizhzhia region again," he wrote. "The enemy will not stop. Ukraine needs air defense systems."In April, <a target="_blank" href="https://www.businessinsider.com/russia-finding-gaps-defenses-ukraine-kyiv-trypillya-west-aid-defense-2024-4">Business Insider</a> reported that Ukraine's low stocks of air defense missiles were leaving even the country's best-protected cities increasingly vulnerable to attack after Russia was able to strike a major power plant near Kyiv.<a target="_blank" href="https://www.nytimes.com/2024/06/11/us/politics/patriot-missiles-ukraine-war.html">The New York Times</a> reported earlier this month that the US had agreed to send a second Patriot air defense system to Ukraine, citing two US officials.Business Insider contacted Ukraine's energy ministry for comment.

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