Alphabet is close to reaching a nuclear power purchase agreement with Constellation Energy Corp. According to Sina Finance, people familiar with the matter said the tech giant is set to sign a multi-year deal to pay Constellation at least $1 billion, with an announcement expected as soon as this week.

Constellation and Google both declined to comment on Monday. The exact size and location of the nuclear power project have not yet been determined. The article said the AI boom has driven huge electricity demand and renewed interest in nuclear power, which can provide round-the-clock stable power and is a zero-emission energy source.