US power companies rebound after previous session's AI-linked slide

Nuscale Power

28/01/2025 10:30

** Shares of U.S. power and equipment companies rise
premarket following a selloff in artificial intelligence-linked
stocks on Monday
    ** U.S. power, utility, and natural gas companies saw
significant drops on Monday, as new AI technology from Chinese
startup DeepSeek raised doubts about future U.S. electricity
demand and tech spending
    ** However, global energy shares recovered some poise on
Tuesday, with independent power provider Constellation Energy
 CEG.O , whose shares had shot up about 100% in 2024, rising
4.5%
    ** Vistra  VST.N  rises 5.3% and rival Talen Energy Corp
 TLN.O  advances 3.3%
    ** GE Vernova  GEV.N , which last week reported growing
demand for its gas turbines and grid equipment and services,
gains 3.2%
    ** Sam Altman-backed nuclear startup Oklo Inc  OKLO.N  up
5.1%
    ** Smaller companies NuScale Power  SMR.N  up 5.23% and Nano
Nuclear Energy  NNE.O  rises 7.7%

 (Reporting by Sanchayaita Roy in Bengaluru)
 ((Sanchayaita.roy@thomsonreuters.com))