Vistra stock jumps on expectations of Trump administration loan
The Trump administration is reportedly expected to offer the power producer roughly $4 billion in the form of a government loan.
What happened: Vistra ( VST ) stock surged 4% in premarket trading on Monday
What's behind the move: A Bloomberg report said the Trump administration is expected to offer the power producer roughly $4 billion in government loan funding for infrastructure and upgrades across three nuclear power plants.
The funding is slated for Vistra's Perry and Davis-Besse nuclear sites in Ohio, as well as the Beaver Valley power station in Pennsylvania, according to the report.
US Energy Secretary Chris Wright is expected to officially announce the initiative during a scheduled site visit to the single-unit Perry Nuclear Complex northeast of Cleveland.
What else you need to know: The backing highlights a crucial bottleneck in AI data centers and power needs.
The White House has outlined a long-term target of quadrupling domestic nuclear generation capacity by 2050, aimed at expanding grid infrastructure, manufacturing, AI computing infrastructure, and lowering retail electricity costs.
Ines Ferre is a senior business reporter for Yahoo Finance.
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