The article compares two energy stocks positioned to benefit from AI data center demand: Bloom Energy, which manufactures solid oxide fuel cell systems for on-site power generation with 85% projected revenue growth but high valuation multiples and profitability challenges; and Constellation Energy, the largest U.S. nuclear power operator with more modest but stable growth, strong cash flow, and lower valuation metrics. The author recommends Constellation Energy for long-term investors due to its reasonable valuation and reliable earnings, while cautioning that Bloom's history as a volatile stock warrants caution despite its growth potential.

Alerian MLP ETF (AMLP) offers a significantly higher 7.7% dividend yield focused on energy infrastructure and master limited partnerships, but carries a higher 1.01% expense ratio. VanEck Uranium and Nuclear ETF (NLR) provides broader diversification across energy, utilities, and industrials with lower fees (0.52%) but has declined 28% over the past year. AMLP suits income investors seeking stable returns, while NLR appeals to growth-oriented investors betting on nuclear power demand from AI data centers.

AI data centers face a significant electricity shortage, with the U.S. alone projected to have a 32-gigawatt shortfall by 2028. The article identifies seven stocks positioned to benefit from this power crisis: utility companies with nuclear capabilities (Constellation Energy, NextEra Energy, Vistra), equipment manufacturers for power generation and management (GE Vernova, Bloom Energy, Eaton, Vertiv). These companies are capitalizing on growing demand for alternative power solutions and energy-efficient infrastructure.

VanEck's NLR nuclear-focused ETF offers higher dividend yield (3.1%) but underperformed significantly with a 21.8% loss over the past year, while iShares' ICLN renewable energy ETF gained 11.0% with lower costs (0.38% expense ratio). The choice between them depends on investor priorities: NLR provides concentrated nuclear exposure but faces regulatory and interest rate risks, while ICLN offers broader diversification across 105 holdings in solar, wind, and clean energy equipment.

Constellation Energy Corporation (CEG) declined 5.49% on October 14, 2026, significantly outpacing the broader market's 1.11% loss. Despite the daily decline, the stock had gained 13.81% prior to this trading session. The company is expected to report strong earnings growth of 31.25% and revenue growth of 32.2% in the upcoming quarter, with full-year estimates showing 29.82% earnings growth and 31.92% revenue growth. CEG holds a Zacks Rank #2 (Buy) rating, though it trades at a premium valuation with a Forward P/E of 24.27 compared to the industry average of 17.7.

Constellation Energy Corporation (CEG) is significantly expanding its renewable energy portfolio with hydroelectric, solar, wind, geothermal, and battery storage assets following its Calpine acquisition. The company achieved a 96% renewable energy capture rate in Q2 2026 and signed a 15-year renewable energy agreement with Toyota Motor North America. CEG's earnings are projected to grow 29.82% in 2026 and 8.76% in 2027, with a trailing ROE of 14.89% exceeding industry averages.

Oklo is developing small nuclear reactors to power AI data centers and reduce fossil fuel dependence. While the company has secured support from Meta and other tech companies, it remains highly speculative with no commercial reactors deployed yet. For investors to become millionaires, the stock would need to gain 100-fold, making it an unrealistic expectation given the company's current stage and regulatory hurdles.

TotalEnergies and KKR have agreed to add 700 MW of solar capacity to their 50:50 joint venture, expanding total capacity from 1.4 GW to 2.1 GW. The $1.2 billion portfolio includes three utility-scale solar projects in Texas and Ohio expected to begin operations by Q1 2027, supporting TotalEnergies' goal of achieving over 100 TWh of net electricity production by 2030.

Multiple ETF sectors outperformed the broader market last week. Brazil small-cap ETFs surged on election optimism, tanker shipping ETFs gained amid Strait of Hormuz tensions, and utilities, cybersecurity, and cloud computing ETFs benefited from AI-driven demand, particularly following Google's nuclear power agreement with Constellation Energy.

Google and Constellation Energy signed a landmark 3.59 GW power purchase agreement worth $4.3 billion in nuclear upgrades, highlighting a structural renaissance in the nuclear industry driven by AI data center demand. The deal exemplifies a broader trend of tech hyperscalers securing long-term nuclear power contracts, reshaping valuations across the nuclear supply chain and making nuclear ETFs attractive investment vehicles.

The nuclear power sector is experiencing a renaissance driven by AI and electric vehicle demand. While high-risk upstarts like Oklo and NuScale offer cutting-edge technology, they are unprofitable with minimal revenue. Safer alternatives include dividend stocks: Constellation Energy (high growth, low yield), NextEra Energy (balanced growth and income), and Brookfield Renewable (high yield with diversified clean energy assets).

Constellation Energy Corporation (CEG) has been trending on Zacks.com with shares returning +4.7% over the past month, outperforming the S&P 500's +2.4%. The company has a Zacks Rank #2 (Buy) rating based on strong earnings estimate revisions. CEG is expected to report 31.3% year-over-year earnings growth for the current quarter and 29.8% for the fiscal year, with revenue growth of 31.9% projected. The stock is valued at par with peers (C grade) and has consistently beaten consensus estimates.