Three Mile Island owner seeks $1.6 billion federal loan to restart nuclear plant for Microsoft AI facility

2 years ago by ArtikBanana to c/technology

Constellation Energy hopes to restart a reactor by 2028 as part of a 20-year agreement with the tech company.

BertramDitore 147 points 2 years ago

As of October 2024 Microsoft has a market cap of $3.109 Trillion. (Source). So uh, fuck that.

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Brokkr 66 points 2 years ago

Market cap doesn't say how much cash they have available. For that, look at cash on hand which publicaly traded companies need to report

MS has about 75B cash on hand, so they could afford this themselves. They will probably argue that it will bring jobs and expertise to the state. Also, it's a loan, so the interest will generate funding for the state as well. nevermind, not a loan from the state, so no interest would go to the state.

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Repelle 36 points 2 years ago

You’re right that it doesn’t mean cash on hand, but it does indicate they could liquidate some of that or borrow against it themselves.

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Fiivemacs 23 points 2 years ago

Agreed, but they will still get it regardless but get fucked if you want healthcare.

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ColeSloth 11 points 2 years ago

Yeah. My instant thought was "get the loan from Microsoft"