Data centers & energy
Constellation Energy
Business, financial evidence and documented connections to the AI buildout.
Business and AI exposure
Constellation generates and sells electricity through a diversified fleet and retail energy business. Its AI infrastructure exposure includes a twenty-year power purchase agreement with Microsoft supporting the planned restart of the Crane Clean Energy Center in Pennsylvania.
investors.constellationenergy.com · 2026-08-06 ↗ · www.constellationenergy.com ↗
Earnings and disclosures
Latest verified results: Q2 2026 · Released 2026-08-06
Next results: 2026-11-09 · Q3 2026 results call.
Checked 2026-10-18 · Financial context and sources ↓
Financial context
For Q2 2026, operating revenue was $7.504 billion and net income attributable to common shareholders was $513 million, or $1.42 per share. Adjusted operating earnings were $920 million, or $2.55 per share. These company totals include the broader generation portfolio.
Products and delivery
FERC approved a waiver allowing existing capacity interconnection rights to transfer to Crane, and the NRC approved a fuel-license amendment. Both advance the restart process. Neither constitutes completed commissioning or confirms that the plant is producing electricity.
Plans and commitments
Crane’s current operating target is 2027. The Microsoft agreement provides a long-term commercial framework for the restart, but its power price and the project’s expected earnings are undisclosed. The target remains a future operating milestone.
www.constellationenergy.com ↗ · www.constellationenergy.com ↗
Economics and dependencies
Restart economics depend on regulatory completion, refurbishment, commissioning and reliable operation. Nuclear output and outage costs also affect the wider business. The generating capacity associated with Crane cannot be converted into a company-wide AI revenue percentage without contract economics and attribution.
investors.constellationenergy.com · 2026-08-06 ↗ · www.constellationenergy.com ↗
What to watch
Further regulatory approvals and commissioning updates should show progress toward the 2027 restart. Once operating, delivered power and financial contributions will be more informative than project capacity alone. Microsoft-specific earnings remain separate from Constellation’s reported company results.
investors.constellationenergy.com · 2026-08-06 ↗ · www.constellationenergy.com ↗ · www.constellationenergy.com ↗
Documented project connections
Each connection below has a specific, cited role. A supplier, lender, customer or proposed acquirer has different economics from the project owner.
No named tracked-project role has been established by the evidence used for this profile. This does not mean the company has no AI exposure.
Evidence boundaries
Company totals, segment sales, bookings, backlog, spending, capacity and usage describe different things. They do not establish project-level revenue, earnings or an exact AI-only revenue share unless the cited disclosure explicitly says so.
This is a dated research snapshot. Forecasts are attributed expectations, and undisclosed amounts remain unknown. Source review does not certify every project or future outcome.