Oct 6, 2026 · 7 min
Nuclear power deal lifts Constellation as data centers reshape markets
Alphabet Buys Constellation, Marvell Technology Gains, Empire State Realty Trust
The episode connects three stock moves to larger shifts in nuclear investment, data-center demand, and the uncertain future of office real estate.
- 1Alphabet’s 20-year nuclear power agreement sends Constellation Energy higher while funding reactor upgrades and additional capacity.
- 2Marvell Technology raises its fiscal 2028 revenue outlook as data-center demand strengthens its long-term growth case.
- 3Empire State Realty Trust rallies after Ares Asset Management discloses a stake, reopening questions about office REITs and interest rates.
Don't miss
Alphabet’s long-term nuclear power agreement with Constellation links a single stock move to reactor investment and the need for additional generating capacity.
The brief
Constellation Energy leads the report after Alphabet agrees to buy nuclear power under a 20-year deal designed to fund reactor upgrades and expand capacity.
Marvell Technology follows with a stronger fiscal 2028 revenue outlook, tying its gains to data-center demand and a powerful year-to-date stock performance.
Empire State Realty Trust rallies after Ares Asset Management discloses a stake, bringing office REITs, bond yields, interest rates, and commercial real estate into focus.
The episode’s broader frame is urban growth: smart-city planning and AI-enabled infrastructure appear alongside the market’s competing bets on energy, technology, and offices.
What was said on this episode
11 statements · 7 positive · 2 negative · 2 neutral
Constellation Energy is currently the S&P 500’s best-performing stock by percentage gain.
“Constellation Energy is actually the best performing stock in the S&P 500 right now on a percentage basis.”
Listen at 0:50
The agreement is expected to add nearly 900 megawatts of nuclear capacity.
“it should essentially bring nearly 900 megawatts of new nuclear capacity.”
Listen at 1:04
The agreement is expected to drive over $4 billion upgrading at least 11 reactors.
“it should drive more than about $4 billion when it comes to investments to upgrade at least 11 Constellation reactors.”
Listen at 1:09
Constellation Energy shares are down approximately 15% year to date.
“Constellation Energy is a stock that's been down about 15% on the year.”
Listen at 1:19
Constellation Energy shares are currently up about 12%.
“Constellation Energy up double digits right now, up about 12%.”
Listen at 1:27
Marvell Technology shares are up approximately 5.6%.
“The stock also in the green, actually higher by about 5.6%.”
Listen at 1:50
Marvell Technology has approximately $251 billion in market capitalization.
“the stock's about $251 billion in market cap.”
Listen at 2:11
Marvell Technology shares have gained 236% year to date.
“Just look at that, 236% so far this year.”
Listen at 2:17
Marvell’s current yearly gain would be its best percentage performance since 2001.
“MRVL, the ticker, would be its best yearly percentage gain if you could hold on that since 2001.”
Listen at 2:26
Empire State Realty Trust shares are down approximately 32% year to date.
“Now, the stock is down about 32%. So far this year.”
Listen at 3:09
Bond-market conditions strongly influence rate perceptions and commercial real estate.
“keeping an eye on what's happening in the bond market because that's really been dictating so much of the perspective when it comes to rates and how it really filters into the real estate market, commercial real estate specifically.”
Listen at 3:55
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
Books & mentions
Economy of Scale
Its preview extends the episode’s smart-city theme into AI, urban innovation, and Dubai’s long-term growth planning.