Microsoft Invests in Nuclear Power to Boost AI Growth 🚀
Microsoft agrees to pay a premium to restart a Three Mile Island nuclear unit, securing reliable energy to support the rising demands of AI development over the next 20 years.
Benzinga
1.1K views • Sep 24, 2024
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Microsoft is estimated to pay Constellation Energy a premium under a 20-year power purchase agreement to restart a unit of the Three Mile Island nuclear plant in Pennsylvania. The deal addresses the rising demand for clean energy from AI-powered data centers. Jefferies analysts estimate that Microsoft will pay a significant premium for its power purchase agreement with Constellation, exceeding typical market rates for similar deals. They noted that customers are increasingly willing to pay higher prices for virtual nuclear agreements, boosting demand for these energy contracts.
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Sep 24, 2024
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