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How will Microsoft's market value change by end of 2024 after Three Mile Island deal?
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Increase • 33%
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Stock market reports and financial news outlets like Bloomberg or CNBC
Story
Microsoft Signs 20-Year, $1.6 Billion Deal for Three Mile Island Nuclear Energy to Power AI Data Centers
Oct 3, 2024, 03:17 PM
Microsoft has entered into a 20-year agreement to purchase energy from the Three Mile Island nuclear power plant in Pennsylvania to power its energy-hungry AI data centers. The plant, known for the worst nuclear accident in U.S. history, is set to be reopened. The deal is worth $1.6 billion, and the owner of Three Mile Island is seeking taxpayer backing for the project. This move highlights the increasing demand for nuclear energy driven by AI data centers. Despite Microsoft's significant market value of $3.1 trillion, the company is looking for government loan guarantees to support the project. Nick Bowler suggests this is showing us the future, while scientists and engineers question if clean energy can handle the AI boom.
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