In a market already jittery about tech spending, nuclear energy stocks took a significant hit on Monday, Feb. 24 as reports surfaced that Microsoft (MSFT) is canceling AI data center leases. Analysts at TD Cowen published a note indicating the tech giant has scrapped leases amounting to “a couple of hundred megawatts” of capacity — enough to power approximately 150,000 homes.
The news sent shockwaves through the nuclear energy sector, with Constellation Energy (CEG), the country's largest nuclear plant owner, plunging nearly 6%. Other nuclear players weren't spared, either, with Vistra (VST) down 5% and reactor developers Oklo (OKLO) and NuScale (SMR) dropping 12% and 3%, respectively.
