From TechCrunch · Tim De Chant · · 1m 50s
Trump DOE loans $5B to nuclear plants powering AI data centers
The Department of Energy is financing nuclear capacity expansions at eight plants, with most new power already committed to Google, Meta and Amazon.
In brief
The Department of Energy is financing nuclear capacity expansions at eight plants, with most new power already committed to Google, Meta and Amazon. The Trump administration loaned Constellation Energy five billion dollars to expand nuclear capacity at eight plants, with most power going to tech giants building AI…
Five billion dollar nuclear loan announced
The Trump administration is giving Constellation Energy five billion dollars in loans to expand nuclear generating capacity at eight power plants by one point one gigawatts.
Tech giants already buying the power
Most or all of the additional power from seven of those facilities has already been bought by Google, Meta, or Amazon for their data centers.
Eight plants across three states targeted
The eight power plants include six in Illinois, one in Maryland at Calvert Cliffs, and one in Pennsylvania at Limerick. Constellation plans to uprate eleven existing reactors.
Tech companies divvy up the power
Google is buying from the Pennsylvania plant and four Illinois plants. Amazon is buying from Maryland. Meta is effectively buying the entire Clinton power plant in Illinois.
Government claims about electricity prices unconfirmed
The Department of Energy said the loan supports affordable reliable power to American homes and businesses. Constellation would not confirm this claim to TechCrunch.
Tech companies racing for power capacity
Hyperscalers including Google, Amazon and Meta are scouring the grid for capacity to support AI data centers. Tech companies are paying handsomely for energy, committing tens of billions of dollars.
Lower capital costs could boost profits
By lowering the cost of capital for the upgrades, the Department of Energy's loans could boost Constellation's bottom line, that of the hyperscalers, or both.
What to remember
The Trump administration loaned Constellation Energy five billion dollars to expand nuclear capacity at eight plants, with most power going to tech giants building AI data centers.
