Constellation Energy Corporation (CEG) Unit Signs New 380-megawatt Deal with CyrusOne

Constellation Energy Corporation (NASDAQ:CEG) is among the 15 Best Electric Utility Stocks to Invest In Now.

Constellation Energy Corporation (NASDAQ:CEG) is among the Best Utility Stocks.

On February 9, 2026, Reuters reported Constellation Energy Corporation (NASDAQ:CEG)'s Calpine business had inked a 380-megawatt agreement with CyrusOne to link and serve a new data center near the Freestone Energy Center in Texas. Calpine has signed an exclusive agreement to deliver power, grid connectivity, and site infrastructure for Phase 2, providing an additional 380 MW. The firm stated that the new agreements, together with the 400 MW contracts announced last year for the Thad Hill Energy Center in Texas, boost total contracted electricity for CyrusOne data centers in Texas to more than 1,100 MW. The corporation concluded its $16.4 billion acquisition of Calpine last month.

On January 20, 2026, Wells Fargo analyst Shahriar Pourreza cut Constellation Energy Corporation (NASDAQ:CEG)'s price objective to $460 from $478 while maintaining an Overweight rating. Wells Fargo named the stock its Best IPP Idea, noting asset potential and several  DC transactions in flight.

Constellation Energy Corporation (NASDAQ:CEG) generates, supplies, and markets clean electricity, as well as renewable energy products and solutions. The company also provides wholesale energy, retail products, and services.

While we acknowledge the potential of CEG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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