Wall St Engine
JPMorgan Upgrades $PINS to Overweight from Neutral, Raises PT to $40 from $35
Analyst comments: "While Pinterest shares have outperformed YTD at +10% vs. the SPX +1%, they remain down -18% from the February market highs compared to the SPX more fully recovered at -3%. We believe PINS has made solid progress across its 2023 Investor Day priorities to: 1) grow users & deepen engagement; 2) improve monetization/ARPU (mid-high teens revenue CAGR); & 3) drive profitable growth (30-34% adj. EBITDA margin target). Importantly, we believe PINS is leveraging its full funnel ad approach and automation/AI capabilities — including Performance+ — to capture a greater share of ad spending among the next tranche of advertisers ($1B-$30B in sales), while some of the larger & more sophisticated advertisers already allocate 5-10% of their budgets to PINS."
Analyst: Doug Anmuth
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JPMorgan Upgrades $PINS to Overweight from Neutral, Raises PT to $40 from $35
Analyst comments: "While Pinterest shares have outperformed YTD at +10% vs. the SPX +1%, they remain down -18% from the February market highs compared to the SPX more fully recovered at -3%. We believe PINS has made solid progress across its 2023 Investor Day priorities to: 1) grow users & deepen engagement; 2) improve monetization/ARPU (mid-high teens revenue CAGR); & 3) drive profitable growth (30-34% adj. EBITDA margin target). Importantly, we believe PINS is leveraging its full funnel ad approach and automation/AI capabilities — including Performance+ — to capture a greater share of ad spending among the next tranche of advertisers ($1B-$30B in sales), while some of the larger & more sophisticated advertisers already allocate 5-10% of their budgets to PINS."
Analyst: Doug Anmuth
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Piper Sandler on $TSLA (OW; PT $400): "On Friday we hosted an investor call with Jordan Giesige of 'The Limiting Factor'. Our take: thanks to vertical integration, Tesla is the only car company that is trying to source batteries, at scale, without relying on China. In fact, for in-house '4680' batteries, China reliance is already approaching 0%. Eventually, Tesla will be making its own cathode active materials (CAM), refining its own lithium, building its own anodes, coating its own electrodes, assembling its own cells, and selling its own cars. No other U.S. entity can make similar claims. Success isn't assured, and in the next 2+ years, there's no way to insulate the U.S. supply chain from China... but at least Tesla has a plan."
Analyst: Alexander Potter
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Piper Sandler on $TSLA (OW; PT $400): "On Friday we hosted an investor call with Jordan Giesige of 'The Limiting Factor'. Our take: thanks to vertical integration, Tesla is the only car company that is trying to source batteries, at scale, without relying on China. In fact, for in-house '4680' batteries, China reliance is already approaching 0%. Eventually, Tesla will be making its own cathode active materials (CAM), refining its own lithium, building its own anodes, coating its own electrodes, assembling its own cells, and selling its own cars. No other U.S. entity can make similar claims. Success isn't assured, and in the next 2+ years, there's no way to insulate the U.S. supply chain from China... but at least Tesla has a plan."
Analyst: Alexander Potter
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Wall St Engine
$META is in EU court today challenging the bloc’s decision to label Messenger and Marketplace as core services under the Digital Markets Act. Meta says Messenger is just part of Facebook, not a standalone chat app, and that Marketplace shouldn’t have been on the list at all. A loss here could make it harder for the EU to enforce the DMA long term.
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$META is in EU court today challenging the bloc’s decision to label Messenger and Marketplace as core services under the Digital Markets Act. Meta says Messenger is just part of Facebook, not a standalone chat app, and that Marketplace shouldn’t have been on the list at all. A loss here could make it harder for the EU to enforce the DMA long term.
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BOJ 🇯🇵 Governor Kazuo Ueda told Japan’s parliament the bank won’t raise rates just to “make room” for future cuts, stressing any hike would require clear signs of economic strength. With trade tensions rising, he said uncertainty remains “extremely high.” BOJ is also sticking to its plan to cut bond purchases by ¥400B per quarter through March.
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BOJ 🇯🇵 Governor Kazuo Ueda told Japan’s parliament the bank won’t raise rates just to “make room” for future cuts, stressing any hike would require clear signs of economic strength. With trade tensions rising, he said uncertainty remains “extremely high.” BOJ is also sticking to its plan to cut bond purchases by ¥400B per quarter through March.
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Wall St Engine
Amazon $AMZN AWS just announced it’s setting up a new EU-based company & dedicated Security Operations Center for its European Sovereign Cloud. It’ll be run entirely by EU citizens, built & operated within the EU, with no reliance on non-EU infrastructure. Launching by end of 2025, this cloud will be "fully featured and independently operated," per AWS.
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Amazon $AMZN AWS just announced it’s setting up a new EU-based company & dedicated Security Operations Center for its European Sovereign Cloud. It’ll be run entirely by EU citizens, built & operated within the EU, with no reliance on non-EU infrastructure. Launching by end of 2025, this cloud will be "fully featured and independently operated," per AWS.
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Wall St Engine
Citi Reiterates Buy Rating on $UBER, PT $102
Analyst comments: "After the close Uber announced that Andrew Macdonald (current SVP of Mobility and Business Operations) has been appointed as President/COO following the retirement of Pierre-Dimitri Gore-Coty (SVP of Delivery). Strategically, this combines leadership for both Mobility and Delivery which should result in greater operational integration as Uber One & GoGet benefits scale across divisions. This follows Mobility GB’s +20% Y/Y ex-FX in 1Q (and our expectation for +20% Y/Y ex-FX in 2Q) while Delivery benefits from continued Food demand along with greater adoption from newer verticals like Grocery and Retail (on a $10B GB ARR) as profitability improves. Turning to AV, we’re watching Tesla’s robotaxi launch in Austin, TX on 06/12 and with Waymo now completing 250K+ paid trips / week (+150% vs. Aug ’24), we note continued demand, and we include CPUC data on AV rides below. We reiterate our Buy rating and $102 TP."
Analyst: Ronald Josey
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Citi Reiterates Buy Rating on $UBER, PT $102
Analyst comments: "After the close Uber announced that Andrew Macdonald (current SVP of Mobility and Business Operations) has been appointed as President/COO following the retirement of Pierre-Dimitri Gore-Coty (SVP of Delivery). Strategically, this combines leadership for both Mobility and Delivery which should result in greater operational integration as Uber One & GoGet benefits scale across divisions. This follows Mobility GB’s +20% Y/Y ex-FX in 1Q (and our expectation for +20% Y/Y ex-FX in 2Q) while Delivery benefits from continued Food demand along with greater adoption from newer verticals like Grocery and Retail (on a $10B GB ARR) as profitability improves. Turning to AV, we’re watching Tesla’s robotaxi launch in Austin, TX on 06/12 and with Waymo now completing 250K+ paid trips / week (+150% vs. Aug ’24), we note continued demand, and we include CPUC data on AV rides below. We reiterate our Buy rating and $102 TP."
Analyst: Ronald Josey
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Wall St Engine
Evercore ISI Upgrades $XYZ to Outperform from In Line, Raises PT to $75 from $58; Reasons for the upgrade:
1. Cash App lending won’t be as aggressive as we thought coming out of 1Q earnings. We were really worried that more aggressive lending (to new consumers in new states w/ higher limits) would be used to offset lower 1Q Cash App #’s, but feedback from our industry contacts and multiple company follow-ups enabled a deeper understanding of its growth/risk tolerance balance and made us materially less concerned than we were initially.
2. Low end consumer spending trends are steady and holding up well. Our checks point to relatively steady low-end consumer spending trends, deposit rates, unemployment deposits, etc. – which is consistent with XYZ’s comments a week after the print about an April rebound in Cash App gross profit to 13% yoy growth (vs 7% in March and 10% in 1Q).
3. New product releases at Square bode well for future development efficiency and growth opportunities. New hardware (handheld), software (consolidated app), and 'Square Releases' (bi-annual product and roadmap updates) are solid proof points that the recent reorg in product/engineering is paying off and could continue to drive better growth and competitiveness.
4. Sales under Nick Molnar is a key value driver. We spoke with Nick this week and were impressed with his GTM plan and initial execution success in sales channel build-outs (especially tele sales and field personnel). US ISO partnerships are very early.
5. Valuation is still attractive despite the recent bounce (+5% over the past week), as the stock is still down 27% ytd vs Nasdaq down <1% and trading at a discount to recent ev to revs and ebitda multiples as well as compared to the broader comp group.
near-term risks/catalysts: 1. cash app borrow (cab) losses and the related balance sheet exposure. to be clear, we are still concerned about increased loan exposure in new markets as that almost always brings higher initial losses that fade over time, just not as much as we were initially. 2. direct deposit and/or 'like' trends at ca – the key metric to show future monetization potential but we question whether xyz’s definition is too narrow to accurately depict the progress here. 3. macro headlines – xyz is more exposed due to low-income consumers & micro-smb merchants but the most severe tariff-related scenarios appear to be somewhat mitigated in recent weeks."
analyst: adam frisch
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Evercore ISI Upgrades $XYZ to Outperform from In Line, Raises PT to $75 from $58; Reasons for the upgrade:
1. Cash App lending won’t be as aggressive as we thought coming out of 1Q earnings. We were really worried that more aggressive lending (to new consumers in new states w/ higher limits) would be used to offset lower 1Q Cash App #’s, but feedback from our industry contacts and multiple company follow-ups enabled a deeper understanding of its growth/risk tolerance balance and made us materially less concerned than we were initially.
2. Low end consumer spending trends are steady and holding up well. Our checks point to relatively steady low-end consumer spending trends, deposit rates, unemployment deposits, etc. – which is consistent with XYZ’s comments a week after the print about an April rebound in Cash App gross profit to 13% yoy growth (vs 7% in March and 10% in 1Q).
3. New product releases at Square bode well for future development efficiency and growth opportunities. New hardware (handheld), software (consolidated app), and 'Square Releases' (bi-annual product and roadmap updates) are solid proof points that the recent reorg in product/engineering is paying off and could continue to drive better growth and competitiveness.
4. Sales under Nick Molnar is a key value driver. We spoke with Nick this week and were impressed with his GTM plan and initial execution success in sales channel build-outs (especially tele sales and field personnel). US ISO partnerships are very early.
5. Valuation is still attractive despite the recent bounce (+5% over the past week), as the stock is still down 27% ytd vs Nasdaq down <1% and trading at a discount to recent ev to revs and ebitda multiples as well as compared to the broader comp group.
near-term risks/catalysts: 1. cash app borrow (cab) losses and the related balance sheet exposure. to be clear, we are still concerned about increased loan exposure in new markets as that almost always brings higher initial losses that fade over time, just not as much as we were initially. 2. direct deposit and/or 'like' trends at ca – the key metric to show future monetization potential but we question whether xyz’s definition is too narrow to accurately depict the progress here. 3. macro headlines – xyz is more exposed due to low-income consumers & micro-smb merchants but the most severe tariff-related scenarios appear to be somewhat mitigated in recent weeks."
analyst: adam frisch
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Wall St Engine
Evercore ISI says there’s “no sign of impact from the Epic ruling...yet” on Apple’s $AAPL App Store. May revenue was up +13% Y/Y, with U.S. App Store growth hitting +10%—the best since January. Analysts note developers seem to be taking a “slow and cautious” approach post-ruling. June will be the key test.
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Evercore ISI says there’s “no sign of impact from the Epic ruling...yet” on Apple’s $AAPL App Store. May revenue was up +13% Y/Y, with U.S. App Store growth hitting +10%—the best since January. Analysts note developers seem to be taking a “slow and cautious” approach post-ruling. June will be the key test.
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Citi’s Steven Zaccone is sticking with his Buy rating and $180 price target on $BOOT Barn after the company’s latest 8-K revealed strong sales momentum.
Same-store sales are up +10.1% quarter-to-date through the first 9 weeks, an acceleration from the +9% trend reported on May 14. That’s well ahead of BOOT’s own 1Q guidance of +4.0–6.0% and Street consensus of +5.8%.
Zaccone says this update supports his earlier view that FY26 guidance was “significantly conservative” and that the setup for a beat-and-raise in July is looking solid.
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Citi’s Steven Zaccone is sticking with his Buy rating and $180 price target on $BOOT Barn after the company’s latest 8-K revealed strong sales momentum.
Same-store sales are up +10.1% quarter-to-date through the first 9 weeks, an acceleration from the +9% trend reported on May 14. That’s well ahead of BOOT’s own 1Q guidance of +4.0–6.0% and Street consensus of +5.8%.
Zaccone says this update supports his earlier view that FY26 guidance was “significantly conservative” and that the setup for a beat-and-raise in July is looking solid.
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Wall St Engine
Citi Reiterates Buy Rating on $NVDA, PT $180
Analyst comments: "– All about AI: Company is laser focused on the AI enabling part of networking. Nvidia has one networking operating system to optimize compute and storage with the focus to generate the lowest TCO for tokens per second per user. Dynamo is the operating system of the AI factories. Mellanox stopped working on campus switches to focus on AI switches after acquired by Nvidia as telco/web scale responses are different from AI agentic flows. – Spectrum-X Sales: Double-clicking on networking in the recently reported 1Q, the segment saw a strong 64% QoQ growth to $5B in 1Q. The growth was seemingly broad based going from scale out to scale up products. On scale up, the company reached $1B+ with its NVLink solutions while on scale out the company continues to gain traction on its Spectrum-X (Ethernet) portfolio with two new customers. Spectrum -X quarterly run-rate of $2B includes both NICS and switches. – Infiniband vs Ethernet: Ethernet is evolving while Infinband is still the gold standard. Hyperscalers are asking for Ethernet due to familiarity reasons and Nvidia has strong Spectrum X capabilities. While merchant suppliers like Arista’s EOS system are trying to pivot over to AI from front end/classic data center switching, it helps to have the entire stack in Nvidia’s case. Majority of Broadcom’s activity in the market is on Tomahawk vs Jericho platform which has programmability but adds latency. – NVLink: NVLink is a scale up platform inside a rack and is extremely specialized for AI. It connects a bunch of GPUs (72) via cache coherent interface. Bigger LLM models benefit from larger scale up of GPUs and sometimes the developers build the model to the hardware GPU stack. Customers don’t have to buy the entire stack from Nvidia and can buy what they need like super NICS, switches, and now NVLink Fusion for semi-custom AI infrastructure. – Co Packaged Optics (CPO): NVLink has over three miles of copper cable. Copper is low power and cheap. However, the reason to do scale out CPO is because 10-15 inches of copper on the PCB can create a lot of noise which requires additional DSP and retimers. To avoid this, put optics right next to ASICs and convert the signal to optics removing DSP and retimers."
Analyst: Atif Malik
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Citi Reiterates Buy Rating on $NVDA, PT $180
Analyst comments: "– All about AI: Company is laser focused on the AI enabling part of networking. Nvidia has one networking operating system to optimize compute and storage with the focus to generate the lowest TCO for tokens per second per user. Dynamo is the operating system of the AI factories. Mellanox stopped working on campus switches to focus on AI switches after acquired by Nvidia as telco/web scale responses are different from AI agentic flows. – Spectrum-X Sales: Double-clicking on networking in the recently reported 1Q, the segment saw a strong 64% QoQ growth to $5B in 1Q. The growth was seemingly broad based going from scale out to scale up products. On scale up, the company reached $1B+ with its NVLink solutions while on scale out the company continues to gain traction on its Spectrum-X (Ethernet) portfolio with two new customers. Spectrum -X quarterly run-rate of $2B includes both NICS and switches. – Infiniband vs Ethernet: Ethernet is evolving while Infinband is still the gold standard. Hyperscalers are asking for Ethernet due to familiarity reasons and Nvidia has strong Spectrum X capabilities. While merchant suppliers like Arista’s EOS system are trying to pivot over to AI from front end/classic data center switching, it helps to have the entire stack in Nvidia’s case. Majority of Broadcom’s activity in the market is on Tomahawk vs Jericho platform which has programmability but adds latency. – NVLink: NVLink is a scale up platform inside a rack and is extremely specialized for AI. It connects a bunch of GPUs (72) via cache coherent interface. Bigger LLM models benefit from larger scale up of GPUs and sometimes the developers build the model to the hardware GPU stack. Customers don’t have to buy the entire stack from Nvidia and can buy what they need like super NICS, switches, and now NVLink Fusion for semi-custom AI infrastructure. – Co Packaged Optics (CPO): NVLink has over three miles of copper cable. Copper is low power and cheap. However, the reason to do scale out CPO is because 10-15 inches of copper on the PCB can create a lot of noise which requires additional DSP and retimers. To avoid this, put optics right next to ASICs and convert the signal to optics removing DSP and retimers."
Analyst: Atif Malik
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Philip Morris International $PM reaffirmed its full-year 2025 EPS forecast of $7.01 to $7.14, reflecting a 10.5% to 12.5% currency-neutral gain over 2024’s adjusted $6.57. No changes to assumptions from its April 23 guidance, per CFO Emmanuel Babeau at today’s dbAccess Consumer Conference.
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Philip Morris International $PM reaffirmed its full-year 2025 EPS forecast of $7.01 to $7.14, reflecting a 10.5% to 12.5% currency-neutral gain over 2024’s adjusted $6.57. No changes to assumptions from its April 23 guidance, per CFO Emmanuel Babeau at today’s dbAccess Consumer Conference.
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Wall St Engine
JPMORGAN PREVIEWS $AAPL's WWDC 2025
"For investors, expectations are already set for a lackluster Worldwide Developers Conference (WWDC) with the company still trying to bring to market the features it had promised in last year’s event, and certain expected announcements, including expansion of distribution/ integration of third-party AI LLMs beyond ChatGPT, which is largely seen as incremental rather than addressing the more material issue of lagging behind other large technology companies in relation to advancements in AI capabilities/ features. On Apple’s part, the capabilities to be highlighted at WWDC will be part of expanded AI offerings to reassure investors about increasing relevance and improving position in relation to AI. While we outline below our expectations from WWDC, we believe potential upside surprise to investors could only be in the form of either the company being more specific around timing in 2026 when the upgraded features for Siri will be available in North America (expect other regions to follow subsequently) or in the form of an announcement of the launch of Apple Intelligence in China - which the company is yet to specify timelines for. Beyond these potential positive surprises, which are less likely, but also less anticipated by investors at this time, the well understood announcements are likely going to relate to: 1) Enabling third party app developers to access on-device AI LLMs and develop applications that can broaden the AI feature sets accessible on iPhones; 2) Announcing integration with Google Gemini, in addition to ChatGPT, represeting another distribtion agreement which is unlikely to be material to investor sentiment; and 3) Reiteration of the broader set of AI feature integrations across Siri and native apps, along with announcements of enhancements which are largely going to be incremental in nature."
Analyst Samik Chatterjee
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JPMORGAN PREVIEWS $AAPL's WWDC 2025
"For investors, expectations are already set for a lackluster Worldwide Developers Conference (WWDC) with the company still trying to bring to market the features it had promised in last year’s event, and certain expected announcements, including expansion of distribution/ integration of third-party AI LLMs beyond ChatGPT, which is largely seen as incremental rather than addressing the more material issue of lagging behind other large technology companies in relation to advancements in AI capabilities/ features. On Apple’s part, the capabilities to be highlighted at WWDC will be part of expanded AI offerings to reassure investors about increasing relevance and improving position in relation to AI. While we outline below our expectations from WWDC, we believe potential upside surprise to investors could only be in the form of either the company being more specific around timing in 2026 when the upgraded features for Siri will be available in North America (expect other regions to follow subsequently) or in the form of an announcement of the launch of Apple Intelligence in China - which the company is yet to specify timelines for. Beyond these potential positive surprises, which are less likely, but also less anticipated by investors at this time, the well understood announcements are likely going to relate to: 1) Enabling third party app developers to access on-device AI LLMs and develop applications that can broaden the AI feature sets accessible on iPhones; 2) Announcing integration with Google Gemini, in addition to ChatGPT, represeting another distribtion agreement which is unlikely to be material to investor sentiment; and 3) Reiteration of the broader set of AI feature integrations across Siri and native apps, along with announcements of enhancements which are largely going to be incremental in nature."
Analyst Samik Chatterjee
Evercore ISI says there’s “no sign of impact from the Epic ruling...yet” on Apple’s $AAPL App Store. May revenue was up +13% Y/Y, with U.S. App Store growth hitting +10%—the best since January. Analysts note developers seem to be taking a “slow and cautious” approach post-ruling. June will be the key test. tweet
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Wall St Engine
$WRD BRINGS BACK LEVEL-4 ROBOBUS TO ROLAND-GARROS
WeRide and Renault are back for year two at the French Open, offering a 2.8km autonomous shuttle loop daily—and now even adding a night route till midnight. The Robobus handled the busy real-world traffic last year, and it’s proving again that driverless tech isn’t just a demo—it’s working.
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$WRD BRINGS BACK LEVEL-4 ROBOBUS TO ROLAND-GARROS
WeRide and Renault are back for year two at the French Open, offering a 2.8km autonomous shuttle loop daily—and now even adding a night route till midnight. The Robobus handled the busy real-world traffic last year, and it’s proving again that driverless tech isn’t just a demo—it’s working.
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Wall St Engine
Truist Securities Upgrades $OSK to Buy from Hold, Raises PT to $127 from $93
Analyst comments: "Too Cheap to Ignore: We are upgrading OSK to Buy from Hold, increasing our adjusted 2026-2027 EPS to $12.55 and $15.00 (prev. $11.55 and $13.00), and raising our price target to $127 (from $93)—which assumes 7.0x our 2026 EBITDA estimate of $1.344B discounted back, and $11.0x our 2026 adjusted EPS estimate of 12.55 discounted back and implies 29% upside. Oshkosh is the cheapest name within our Machinery coverage universe trading at 8.3x consensus forward earnings and 5.9x consensus forward EV/EBITDA, representing a ~40% discount to the broader Machinery group and screening cheap relative its long-term average. We believe the risk/reward is attractive given strength of the balance sheet, above average visibility supported by backlog in the higher margin Vocational business, and with Defense sales and margins at bottom. We believe OSK earnings should prove more resilient relative to prior downturns. We believe that the overhang on the stock is that the downturn for Access Equipment extends to 2026, and the stock has priced in an aggressive bear case scenario."
Analyst: Jamie Cook
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Truist Securities Upgrades $OSK to Buy from Hold, Raises PT to $127 from $93
Analyst comments: "Too Cheap to Ignore: We are upgrading OSK to Buy from Hold, increasing our adjusted 2026-2027 EPS to $12.55 and $15.00 (prev. $11.55 and $13.00), and raising our price target to $127 (from $93)—which assumes 7.0x our 2026 EBITDA estimate of $1.344B discounted back, and $11.0x our 2026 adjusted EPS estimate of 12.55 discounted back and implies 29% upside. Oshkosh is the cheapest name within our Machinery coverage universe trading at 8.3x consensus forward earnings and 5.9x consensus forward EV/EBITDA, representing a ~40% discount to the broader Machinery group and screening cheap relative its long-term average. We believe the risk/reward is attractive given strength of the balance sheet, above average visibility supported by backlog in the higher margin Vocational business, and with Defense sales and margins at bottom. We believe OSK earnings should prove more resilient relative to prior downturns. We believe that the overhang on the stock is that the downturn for Access Equipment extends to 2026, and the stock has priced in an aggressive bear case scenario."
Analyst: Jamie Cook
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$VNOM TO ACQUIRE $STR IN $4.1B ALL-STOCK DEAL
Viper Energy, a Diamondback (FANG) unit, is buying Sitio Royalties in an all-equity deal valuing Sitio at $19.41/share, including $1.1B in net debt. Deal gives Viper ~85.7K net royalty acres in the Permian and boosts Q4 '25 production outlook to 64–68 Mbo/d.
Expected to be 8–10% accretive to cash available per share right after close, with $50M+ in annual synergies. New base dividend hiked 10% to $1.32/share. Pro forma leverage targeted at 1.2x at closing, under 1.0x at $60 WTI.
Diamondback will retain 41% ownership post-close. Deal expected to close Q3 2025.
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$VNOM TO ACQUIRE $STR IN $4.1B ALL-STOCK DEAL
Viper Energy, a Diamondback (FANG) unit, is buying Sitio Royalties in an all-equity deal valuing Sitio at $19.41/share, including $1.1B in net debt. Deal gives Viper ~85.7K net royalty acres in the Permian and boosts Q4 '25 production outlook to 64–68 Mbo/d.
Expected to be 8–10% accretive to cash available per share right after close, with $50M+ in annual synergies. New base dividend hiked 10% to $1.32/share. Pro forma leverage targeted at 1.2x at closing, under 1.0x at $60 WTI.
Diamondback will retain 41% ownership post-close. Deal expected to close Q3 2025.
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$META just signed its biggest power deal yet—a 20-year agreement to buy 1.1 GW of nuclear energy from Constellation’s $CEG Clinton plant in Illinois starting 2027.
Without this, the plant was at risk of shutting down as subsidies expire. This deal not only keeps it running but could also lead to a new reactor at the site.
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$META just signed its biggest power deal yet—a 20-year agreement to buy 1.1 GW of nuclear energy from Constellation’s $CEG Clinton plant in Illinois starting 2027.
Without this, the plant was at risk of shutting down as subsidies expire. This deal not only keeps it running but could also lead to a new reactor at the site.
$META TO BUY NUCLEAR POWER FROM CONSTELLATION $CEG FOR DATA CENTERS tweet