Stock Movers: Nuclear Power Deals, AI Data Centers, and Tech Earnings

Nuclear Power and Meta Deal

• ⚡ Constellation Energy, the largest US nuclear power generator, has signed a 20-year contract with Meta Platforms to supply power from an operating Illinois nuclear plant.
• 💡 This deal, the first of its kind with a currently operating nuclear plant, highlights the voracious appetite of technology companies for energy to power data centers and AI.
• 📈 Constellation Energy shares saw a significant jump of nearly 13% in pre-market trading following the announcement.

Applied Digital's AI Data Center Growth

• 🚀 Applied Digital shares continued their upward trend, rising another 4.3% after a 45% surge the previous day.
• 💰 This surge is driven by a substantial $7 billion, 15-year data center lease agreement with CoreWeave, a cloud-based AI computing service.
• 📊 The deal underscores the growing demand for specialized infrastructure to support AI computing services.

Credo Technology Earnings Beat

• 📈 Credo Technology shares advanced 13.7% in pre-market trading after reporting better-than-expected revenue for its fourth quarter.
• 🔌 The high-speed connectivity solutions company continues to grow its business with hyperscaler customers like Amazon, XAI, and Microsoft, supporting their AI services.
• 💬 The CEO expressed confidence in the company's ability to maintain this growth trajectory.

Stock Declines and Earnings

• 📉 Bumble shares fell 5.5% in pre-market trading following a downgrade by JP Morgan to 'underweight', citing challenges in the online dating category and issues with Gen Z product fit.
• 💰 Dollar General shares rose 7% pre-market after reporting first-quarter earnings per share (EPS) that beat estimates and raising their full-year financial guidance.