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.
Business categories Merchant Power & Retail Energy · Power & Grid · primary Nuclear Power Value Chain · Power & Grid
TLN Updated Jul 12, 2026 5 AI consumers· 3 recurring
Per the valuechain.wiki graph, Talen Energy is directly linked to 2 companies (1 supply, 1 revenue relationships) and reaches 43 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 |
|---|---|---|---|---|---|---|---|
| CrowdStrike | lead2 | -3.3 | -48.6 | +142.5 | +34 | +37 | +134.7 |
| Palo Alto Networks | lead2 | +56.7 | -24.8 | +111.3 | +23.4 | +1.2 | +127.4 |
| Datadog | lead2 | +80.9 | -58.7 | +65.1 | +17.7 | -4.8 | +115.6 |
| Snowflake | lead2 | +20.4 | -57.6 | +38.6 | -22.4 | +42.1 | +68.2 |
| Illumina | lead2 | +2.8 | -46.9 | -31.1 | -1.3 | -1.8 | +66.4 |
| Schrodinger | lead2 | -56 | -46.3 | +91.5 | -46.1 | -7.3 | +52.6 |
| Schlumberger | lead2 | +39.6 | +81.2 | -0.8 | -24.5 | +3.3 | +52.3 |
| Airbnb Inc | lead2 | · | -48.6 | +59.2 | -3.5 | +3.3 | +34.1 |
| Labcorp Holdings Inc. | lead2 | +54.4 | -24.4 | +13.8 | +2.2 | +10.6 | +25.3 |
| Becton, Dickinson and Company | lead2 | +1.9 | +5.1 | -2.7 | -5.4 | -12.6 | +22.8 |
| Live Nation Entertainment, Inc. | lead2 | +62.9 | -41.7 | +34.2 | +38.4 | +10 | +21.8 |
| Carrier Global Corporation | lead2 | +45.3 | -22.7 | +41.5 | +20.3 | -21.8 | +14.3 |
| Waters Corporation | lead2 | +50.6 | -8.1 | -3.9 | +12.7 | +2.4 | +14.2 |
| Rockwell Automation, Inc. | lead2 | +41.2 | -24.8 | +22.6 | -6.2 | +38.4 | +12.3 |
| Agilent Technologies, Inc. | lead2 | +35.5 | -5.5 | -6.4 | -2.7 | +1.9 | +11.5 |
| Automatic Data Processing, Inc. | lead2 | +42.6 | -1.3 | -0.2 | +28.4 | -10.2 | +9.6 |
| Hilton Worldwide Holdings Inc. | lead2 | +40.2 | -18.7 | +44.7 | +36.1 | +16.5 | +8.5 |
| 3M Company | lead2 | +4.9 | -29.6 | -3.3 | +46.1 | +26.4 | +6.8 |
| Expedia Group, Inc. | lead2 | +36.5 | -51.5 | +73.3 | +22.8 | +53.3 | +5.8 |
| Hubbell Incorporated | lead2 | +35.6 | +15.1 | +42.4 | +28.9 | +7.4 | +4.7 |
| MercadoLibre, Inc. | lead2 | -19.5 | -37.2 | +85.7 | +8.2 | +18.5 | -1.8 |
| DoorDash, Inc. | lead2 | · | -67.2 | +102.6 | +69.6 | +35 | -6.5 |
| The Walt Disney Company | lead2 | -14.5 | -43.9 | +4.3 | +24.4 | +3.3 | -6.7 |
| Uber | lead2 | -17.8 | -41 | +149 | -2 | +35.5 | -7.3 |
| Roper Technologies | lead2 | +14.7 | -11.6 | +26.9 | -4.1 | -13.8 | -7.9 |
| Workday, Inc. | lead2 | +14 | -38.7 | +65 | -6.5 | -16.8 | -8.8 |
| Axon Enterprise, Inc. | lead2 | +28.1 | +5.7 | +55.7 | +130.1 | -4.4 | -9.2 |
| Constellation Brands, Inc. | lead2 | +16.1 | -6.4 | +5.8 | -7.1 | -36 | -9.2 |
| Salesforce, Inc. | lead2 | +14.2 | -47.8 | +98.5 | +27.8 | -20.2 | -12.9 |
| GE HealthCare Technologies Inc. | lead2 | · | · | · | +1.3 | +5.1 | -15.9 |
| Netflix | lead2 | +11.4 | -51.1 | +65.1 | +83.1 | +5.2 | -16.5 |
| Stryker Corporation | lead2 | +10.2 | -7.4 | +23.8 | +21.3 | -1.5 | -20.4 |
| IDEXX Laboratories, Inc. | lead2 | +31.7 | -38 | +36.1 | -25.5 | +63.6 | -20.9 |
| Comcast Corporation | lead2 | -2.2 | -28.7 | +29.1 | -11.8 | -17.3 | -22.3 |
| Adobe Inc. | lead2 | +13.4 | -40.7 | +77.3 | -25.5 | -21.3 | -23.9 |
| Autodesk, Inc. | lead2 | -7.9 | -33.5 | +30.3 | +21.4 | +0.1 | -26.4 |
| Coupang | lead2 | · | -49.9 | +10.1 | +35.8 | +7.3 | -35.2 |
| Fair Isaac Corporation | lead2 | -15.1 | +38 | +94.5 | +71 | -15.1 | -44.9 |
| Intuit Inc. | lead2 | +70.3 | -39.1 | +61.8 | +1.2 | +6.1 | -53.7 |
| Corteva, Inc. | lead2 | +23.6 | +25.6 | -17.5 | +20.2 | +18.9 | -80.1 |
| Amazon | lead1 | +2.4 | -49.6 | +80.9 | +44.4 | +5.2 | +12 |
| Talen Energy | node | · | · | · | +214.8 | +86.1 | +1 |
| Cameco | benef1 | +63.2 | +4.3 | +90.5 | +19.5 | +78.4 | -3.7 |
YTD as of 2026-10-09 · source: Yahoo Finance
Talen Energy operates across Nuclear power, datacenter PPA. After +86.1% in 2025, it corrected -15.4% in 2026. The supply side (avg +10.1%) has moved harder than the stock (-15.4%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Amazon (+12%) and the furthest behind is Cameco (+10.1%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Another generation pillar of the power bottleneck.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target $473 · Price $378.57 (10-09) · Upside +25%
| 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.
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