Google nearing deal to buy nuclear energy from Constellation for $1 billion or more — report

Google's parent Alphabet GOOGL.O is nearing a multi-year deal to buy nuclear energy from Constellation Energy CEG.O for $1 billion or more, Bloomberg News reported on Monday, citing people familiar with the matter.

The deal could be announced as soon as this week, the report said.

Google could not immediately be reached for comment outside regular business hours, while Constellation Energy declined to comment.

Rising electricity demand from AI computing has renewed interest in nuclear power, which offers steady, carbon-free energy.

Last year, search giant Google partnered with NextEra Energy NEE.N to restart an Iowa nuclear power plant. It also signed a deal last month with Southern Co SO.N to support upgrades at two of its nuclear plants.

Constellation has also signed power deals with Amazon.comAMZN.O and MicrosoftMSFT.O previously.

-Fabiola Arámburo in Mexico City, Editing by Subhranshu Sahu/Reuters