Power companies slide amid broad pullback in AI-linked stocks

Nano Nuclear Energy

27/01/2025 10:31

** Shares of electric utility companies, which are expected
to see a surge in demand from power-hungry data centers needed
to develop AI technology, tumble premarket
    ** Chinese startup DeepSeek rolled out a free AI model that
it says uses lower-cost chips and less data, wobbling investors'
faith in the profitability of AI 
    ** Nuclear power companies Constellation Energy  CEG.O  and
Vistra  VST.N  fall ~11% each
    ** World's largest renewable power company NextEra Energy
 NEE.N  drops 7.3%
    ** GE Vernova  GEV.N , which last week reported growing
demand for its gas turbines and grid equipment and services,
drops 12.1%
    ** Sam Altman-backed nuclear startup Oklo Inc  OKLO.N  falls
12.6%; smaller companies NuScale Power  SMR.N  down 13.1% and
Nano Nuclear Energy  NNE.O  down 11.5%

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))