Power companies slump to bottom of S&P 500 as AI-linked stocks slide

Nuscale Power

27/01/2025 16:03

(Updates)
    ** 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 
    ** 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 
    ** High-flying nuclear power companies slump to the bottom
of S&P 500  .SPX ; Vistra  VST.N  fall ~24.7% and Constellation
Energy  CEG.O  slides 19.2%
    ** GE Vernova  GEV.N , which last week reported growing
demand for its gas turbines and grid equipment and services,
drops 18.5%
    ** World's largest renewable power company NextEra Energy
 NEE.N  drops 13.2%
    ** Sam Altman-backed nuclear startup Oklo Inc  OKLO.N  falls
22.4%; smaller companies NuScale Power  SMR.N  down 24% and Nano
Nuclear Energy  NNE.O  down 20%

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