Shares of power producers slid amid concerns that Chinese firm’s DeepSeek breakthrough making artificial intelligence more cheaply and efficiently would cut short a boom in U.S. electricy production.
Shares of Constellation Energy, a utility that has arranged to restart production at Three Mile Island nuclear plant in order to feed tech companies’ voracious AI-related power demand, fell by more than one fifth.
GE Vernova, the maker of wind turbines and other generating equipment, plunged by a similar measure.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
January 27, 2025 17:55 ET (22:55 GMT)
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