BNP Paribas Adjusts Alphabet Price Target to $450 From $420

Alphabet Inc's Google (NASDAQ:GOOGL) launched the $180 Fitbit Edge, a premium fitness tracker with a replaceable battery and advanced features. The device aims to drive adoption of Google Health Premium, a $10/month subscription service with AI coaching and health monitoring tools. Google also expanded data-sharing partnerships with health providers. The Edge is positioned between the Fitbit Air and Pixel Watch, with pre-orders starting ahead of an October 27 release.

Google and Constellation Energy signed a 20-year PPA to add 890 MW of nuclear capacity to the PJM grid. The $4.3B investment will upgrade 11 nuclear units. Google aims to support data center sustainability, while Constellation secures long-term revenue. First capacity is expected by 2028, with additional clean energy projects planned.

Alphabet (GOOGL.O) is close to a multi-year, $1B+ deal with Constellation Energy (CEG.O) for nuclear power, per Bloomberg. The agreement could be announced this week. Rising AI-driven electricity demand has increased interest in nuclear energy. Google has previously partnered with NextEra Energy (NEE.N) and Southern Co (SO.N) for nuclear projects. Constellation has also supplied power to Amazon (AMZN.O) and Microsoft (MSFT.O).

OpenAI, Nvidia, Anthropic, Amazon, and Google are contributing $2.4B in computing resources to the Trump administration's Genesis Mission, which aims to use AI for energy, scientific, and national security breakthroughs. Nvidia pledged $1B over five years, OpenAI $200M, and others various amounts. The initiative involves 14 federal agencies and seeks to advance AI adoption.

Alphabet (GOOGL) secured 3.6 GW of nuclear power capacity through a 20-year agreement with Constellation Energy, supporting new capacity and supply. The deal includes a $4.3B investment, with upgrades starting in 2028. Shares fell 0.7% to $347.93 on October 9, despite a 36.98% premium to the GF Value estimate.

Google has activated 8 million paid Gemini Enterprise seats across 4,200 companies, shifting its focus to becoming a central AI orchestrator. The new Gemini agent, announced by Google Cloud CEO Thomas Kurian, aims to streamline enterprise AI tools. Google Cloud reported $20 billion in Q1 2026 revenue, with an 800% surge in generative AI product revenue, and 90% of the Fortune 100 using Gemini Enterprise.