Nuclear Stock Face-Off: Is Constellation Energy or Vistra the Better Buy Right Now?

CEG operates the largest U.S. nuclear fleet at over 22 gigawatts and has locked in 20-year power purchase agreements with MSFT and META. VST holds a smaller 6.4-gigawatt nuclear portfolio but has secured long-term contracts with META and AMZN's AWS unit.

The valuation gap is stark: VST trades at 14.4x forward earnings versus CEG's 22.4x multiple. VST is pairing that discount with aggressive share buybacks and what the source characterizes as additional growth catalysts beyond its current contract wins.

Both stocks are riding the AI-driven data center power demand surge, with hyperscalers turning to nuclear baseload to meet 24/7 electricity needs. CEG's scale commands a premium, but VST's lower entry price and capital return program may offer better risk-adjusted upside from current levels. The sector rotation into nuclear has lifted both names, though CEG's valuation reflects optimism already priced in.