Constellation Energy

CEGBearish

US clean energy company operating nuclear, hydro, and renewable power generation facilities.Yahoo Finance ↗constellationenergy.com ↗

2 takes · first discussed Jan 25, 2025 · last May 24, 2025

Stock since first call

-10.4%

$275.00 → $246.28

Current call

Bearish-20.1%

since May 24, 2025✓ right so far· stance 383d old

anchored Jan 25, 2025 · as of Jun 11, 2026

The tape vs. the takes

Every call, plotted at the price the day they made it.

letter = host · click for the quote

Where they stand now

Chamath

Bearish

Chamath warns that cutting clean energy tax incentives in the Big Beautiful Bill will cause private capital to flee energy infrastructure investment, creating power shortages that are inflationary and harmful to AI buildout — a structural negative for energy providers dependent on those financing mechanisms.

E229 · May 24, 20251 take ↓

GGuests

Bullish

Thomas Lafont highlights Constellation Energy as a compelling public-market idea, citing direct power-purchase deals with hyperscalers and the US government as evidence of a durable nuclear tailwind from AI infrastructure demand.

E212 · Jan 25, 20251 take ↓

The discussion

The hosts are split on Constellation Energy, with diverging views driven by different time horizons and policy concerns. Guest Thomas Lafont (January 2025) is a high-conviction bull, pointing to Constellation's direct power-purchase agreements with hyperscalers and the US government as evidence that nuclear energy is a durable, multi-decade beneficiary of AI infrastructure demand. Chamath (May 2025) does not address Constellation directly but strikes a bearish tone on the broader energy sector, warning that the removal of clean energy tax incentives in the Big Beautiful Bill will drive private capital out of energy infrastructure, creating power shortages that are both inflationary and damaging to AI buildout — a macro headwind that would pressure energy providers reliant on those financing structures. The two perspectives are not directly reconciled: Lafont's bull case rests on nuclear's strategic positioning, while Chamath's concern centers on policy-driven financing disruption that could undercut the very capital formation needed to build out that capacity.

How they got there

Chamath1 take since May 24, 2025

BearishE229May 24, 2025⚑

If you want a nat gas turbine, we have to wait until 2030. Why? Because China owns them all... Nuclear? I can't because that'll take till 2035. So then I'm like, okay, I'll go into the tax equity markets and I'll finance myself residential”1:29:40

GGuests1 take since Jan 25, 2025

BullishE212Jan 25, 2025⚑

One of the really interesting parts— I don't know if you guys have been following this stock in the public market, guys, called Constellation Energy. Oh yeah, it's a really interesting idea… we expect the trend generally towards nuclear”1:28:36

iAbout these quotes

Quotes are machine-transcribed from the episode audio — use the Listen links to verify any take against the source, or the ⚑ link to report a problem. Takes marked unverified, low-conviction, or commentary-only never move stances, the index, or the funds.