Constellation Energy vs. Vistra: Nuclear's Two Biggest AI Bets, and why I'm Picking One.

AI is driving demand for electricity, putting Constellation Energy (CEG) and Vistra (VST) in an unusual position as two major nuclear-powered bets on the AI boom. As hyperscalers build more AI data centers, reliable power is becoming a critical part of the infrastructure stack, and nuclear providers are high on their shopping lists.

Constellation is the larger company, with a bigger nuclear fleet and major long-term contracts with companies like Microsoft (MSFT) and Meta Platforms (META). Vistra, meanwhile, is smaller but has more contracted hyperscaler power and a broader mix of generation assets.