Trump DOE Offers $5B in Loans to Constellation for Nuclear Uprates Powering AI Data Centers

The Trump administration is extending $5 billion in loan commitments to Constellation Energy to expand nuclear generating capacity at eight power plants by 1.1 gigawatts, a move that underscores how aggressively hyperscale technology companies are securing dedicated electricity supplies for AI data centers.

The financing will support "uprates" at 11 existing reactors — an industry practice of increasing a reactor's output, often by using more highly enriched uranium and upgrading equipment to handle higher power levels. The eight facilities include six in Illinois (Braidwood, Byron, Clinton, Dresden, La Salle and Quad Cities), one in Maryland (Calvert Cliffs) and one in Pennsylvania (Limerick).

Most or all of the additional power from seven of the facilities has already been purchased by Google, Meta or Amazon. Google is the confirmed buyer of additional output from the Pennsylvania plant and four Illinois plants, while Amazon is buying electricity from the Maryland facility and Meta is effectively buying the entire Clinton plant in Illinois. Constellation said it had already committed more than $7 billion to add 1,080 megawatts of nuclear capacity for the three hyperscalers, and that the loan commitment, which has yet to be finalized, "could lower financing costs" for the projects.

The Department of Energy touted the loan as supporting "affordable, reliable power to American homes and businesses," though there is no evidence that the new nuclear capacity will lower prices for residential ratepayers. Constellation's announcement does not say whether the projects will maintain or lower electricity rates, and the company would not confirm the government's claim.

The deal highlights the intensifying race among hyperscalers to lock down grid capacity for AI data centers, with technology companies committing tens of billions of dollars to energy supplies in coming years. By lowering the cost of capital for the upgrades, the DOE loans could boost Constellation's bottom line, that of the hyperscalers — or both.