A sign announces the closing of the observation center for the Three Mile Island nuclear plant in ... [ ] Pennsylvania, following an accident on March 28, 1979. A pump failed in the reactor cooling system, shutting down the plant and threatening a nuclear meltdown. (Photo by Owen Franken/Corbis via Getty Images)
Nvidia stock has soared 156% in 2024. Meanwhile, shares of Constellation Energy — a provider of nuclear power services and owner of the Three Mile Island facility in Pennsylvania that suffered an accident in March 1979 — have risen 129%.
Constellation — which recently signed a 10-year agreement for Microsoft to pay the nuclear energy leader about $16 billion, according to Seeking Alpha — could be a better investment than Nvidia. Here are three reasons:
One downside to consider is that analysts’ price targets fully capture Constellation’s upside, according to TipRanks.
The demand for energy to operate data centers is forecast to rise as Nvidia revenue growth slows. U.S. power demand has remained roughly unchanged between 2014 and 2024, noted TheStreet. However overall power demand in data centers is projected to surge “160% by 2030,” according to a May........