Constellation Energy Corporation (NASDAQ:CEG) shares are trading lower Wednesday, among other energy and nuclear stocks. The sector may be under pressure amid reports that Blue Owl Capital will not provide funding for a $10 billion deal to build Oracle’s next data center.
Constellation Energy stock is among today’s weakest performers. What’s behind CEG decline?
What To Know: A Financial Times report said Blue Owl Capital will not move forward with backing a planned $10 billion data center project after negotiations with Oracle and lenders stalled. The facility was expected to be a 1-gigawatt site designed to support artificial intelligence workloads.
The breakdown in funding discussions leaves the financing of the Michigan data center in question, as no replacement backer has been finalized. Sources cited concerns related to rising debt levels and the scale of artificial intelligence infrastructure spending.
Nuclear operators have been viewed as potential beneficiaries of rising electricity needs from large-scale data centers, leaving the sector sensitive to signs of project delays or funding uncertainty.
See Also: Oracle Stock Sell-Off Intensifies: What’s Behind The Move?
CEG Price Action: At the time of writing, Constellation shares are trading 8.14% lower at $335.84, according to data from Benzinga Pro.
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