Amazon, the cloud, commerce and AI-infrastructure company , signed a 20-year nuclear power agreement with Constellation, with shares trading around $247.33, up approximately 0.73%, at about 12:31 p.m. ET Thursday. The deal supports expansion of Maryland's Calvert Cliffs plant. Amazon is securing another essential ingredient for its AI ambitions: electricity that can keep flowing around the clock.

The numbers are substantial. Constellation's announcement puts the agreement at 690 megawatts, including roughly 190 megawatts of additional generation expected between 2030 and 2032. It supports more than $3 billion in investment across the existing 1,790-megawatt facility. Electricity will continue feeding the regional grid, while a related supply agreement serves Amazon's operations in the region. The announcement does not disclose pricing or Amazon's annual payments. That leaves investors unable to judge the contract's economics. Constellation Energy Corporation.

The valuation shows shares just 1.02% below the $249.87 GF Value estimatea narrow gap that suggests little valuation cushion by that measure. Securing long-term power could help Amazon plan its infrastructure expansion, but the new capacity remains years away. Near-term demand still needs a bridge. The financial payoff will depend on what Amazon pays for that electricity and how much profitable cloud business it can generate from it.