Nuclear power · datacenter PPA
Talen Energy
A US independent power producer that owns the Susquehanna nuclear plant. It signed a 1,920MW carbon-free PPA with Amazon (AWS) through 2042 (~$18B lifetime revenue) to power Pennsylvania AI datacenters. It is also exploring SMRs and uprates with AWS. Another generation pillar of the power bottleneck.
TLN Updated Jul 12, 2026 2 AI consumers
Per the valuechain.wiki graph, Talen Energy is directly linked to 2 companies (1 supply, 1 revenue relationships) and reaches 15 companies within two hops; the links are backed by 4 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · Amazon PPA 1,920MW, ~$18B lifetime
- Customer concentration · Amazon nuclear PPA for AI datacenters.
- Segments · Nuclear (Susquehanna) · Datacenter PPAs · Wholesale power
Revenue from
- Amazon High confidence
1,920MW Susquehanna nuclear PPA to Amazon (AWS) through 2042 (~$18B). - Wholesale power market (PJM) Medium confidence
PJM wholesale power sales — selling volume outside the Amazon PPA at market prices, exposed to power-price swings.
Pays to
- Cameco Medium confidence
Sources nuclear fuel (uranium) from Cameco — fuel is a small cost share, but securing long-term fuel is a precondition for running the plant, so uranium supply stability is a risk-management axis. - Power plant operation · maintenance · capacity expansion (undisclosed) Low confidence
Susquehanna operations, maintenance and uprate costs — plant availability and safety-regulatory compliance anchor supply reliability. - Nuclear fuel · operation · SMR (undisclosed) Low confidence
Nuclear fuel and operations plus SMRs explored with AWS — expanding existing assets and SMRs are the fastest path to new supply.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Datadog | lead2 | +80.9 | -58.7 | +65.1 | +17.7 | -4.8 | +89.4 |
| Palo Alto Networks | lead2 | +56.7 | -24.8 | +111.3 | +23.4 | +1.2 | +76.9 |
| CrowdStrike | lead2 | -3.3 | -48.6 | +142.5 | +34 | +37 | +59.7 |
| Illumina | lead2 | +2.8 | -46.9 | -31.1 | -1.3 | -1.8 | +45 |
| Snowflake | lead2 | +20.4 | -57.6 | +38.6 | -22.4 | +42.1 | +19.2 |
| Airbnb Inc | lead2 | · | -48.6 | +59.2 | -3.5 | +3.3 | +9.5 |
| Schrodinger | lead2 | -56 | -46.3 | +91.5 | -46.1 | -7.3 | -7.8 |
| MercadoLibre, Inc. | lead2 | -19.5 | -37.2 | +85.7 | +8.2 | +18.5 | -8 |
| Uber | lead2 | -17.8 | -41 | +149 | -2 | +35.5 | -8.8 |
| The Walt Disney Company | lead2 | -14.5 | -43.9 | +4.3 | +24.4 | +3.3 | -15.3 |
| Coupang | lead2 | · | -49.9 | +10.1 | +35.8 | +7.3 | -20.3 |
| Netflix | lead2 | +11.4 | -51.1 | +65.1 | +83.1 | +5.2 | -21.7 |
| Amazon | lead1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +6.3 |
| Talen Energy | node | · | · | · | +214.8 | +86.1 | +2.9 |
| Cameco | benef1 | +63.2 | +4.3 | +90.5 | +19.5 | +78.4 | +4.9 |
YTD as of 2026-07-10 · source: Yahoo Finance
The core of Talen Energy is that its Susquehanna nuclear plant — a carbon-free baseload asset — has become a prime beneficiary of the AI data-center power bottleneck. A 1,920MW PPA with Amazon (AWS) through 2042 (~$18bn lifetime) converts a large share of the plant's output into long-term fixed revenue, a hedge against wholesale-price volatility and the crux of the re-rating. The growth option is SMRs and uprates with AWS: where new nuclear is hard to build, expanding existing assets is the fastest path to added supply. In graph terms Talen is a revenue node to Amazon and a cost node to Cameco (uranium fuel), so PPA expansion, SMR realization and plant availability drive valuation, while PJM wholesale prices are the variable for uncontracted volume.
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target $473 · Price $385.8 (07-10) · Upside +23%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Morgan Stanley | Overweight | $508 | Jun 24, 2026 | Report ↗ |
| Goldman Sachs | Buy | $499 | Jun 18, 2026 | Report ↗ |
| Barclays | Overweight | $411 | May 19, 2026 | Report ↗ |
Benefiting from PJM supply tightening and data-center power deals; Goldman Sachs initiated at Buy with a $499 target in June 2026 and Morgan Stanley lifted its target to $508.