- Shares of electric utility companies, which are expected to see a surge in demand from power-hungry data centers needed to develop AI technology, tumble
- Chinese startup DeepSeek rolled out a free AI model that it says uses lower-cost chips and less data, wobbling investors’ faith in the profitability of AI
- High-flying nuclear power companies slump to the bottom of S&P 500 ; Vistra fall ~24.7% and Constellation Energy slides 19.2%
- GE Vernova, which last week reported growing demand for its gas turbines and grid equipment and services, drops 18.5%
- World’s largest renewable power company NextEra Energy drops 13.2%
- Sam Altman-backed nuclear startup Oklo Inc falls 22.4%; smaller companies NuScale Power down 24% and Nano Nuclear Energy down 20%
(Reporting by Medha Singh)