NextEra Energy and Google Cloud are expanding their collaboration to build several gigawatt-scale data-center campuses, combining NextEra’s power capabilities with Google Cloud’s AI and infrastructure.

Separately, NextEra’s Meta-related deals include 11 power purchase agreements and 2 energy storage agreements, with projects scheduled to begin between 2026 and 2028 and an estimated 2,440 construction jobs.

Analysts view the stock as elevated in valuation (roughly P/E 26, P/S around 6.4, P/B near 3.1) with a cautiously optimistic target price around $90 and institutional ownership high at about 86%.

Financials show revenue of about $26.3 billion with solid margins, but earnings growth declined in the last year and leverage remains high, underscoring mixed risk and resilience.

NextEra’s stock has a history of dividend growth, currently yielding around 2.7% with a long track record of increases.

Scott Bores has been appointed president of Florida Power & Light, reporting to the CEO of NextEra Energy.

Florida PSC approved a base-rate agreement for FPL with stepwise increases totaling near $1.6 billion in the near term, influencing investor sentiment and guiding ratings.

Risks highlighted include a concerning Altman Z-score and insider selling, signaling potential near-term distress signals.

The collaboration’s first commercial product is slated for mid-2026 in the Google Cloud Marketplace, featuring AI-enhanced field operations to improve maintenance, supply chain, and crew scheduling.

Ketchum notes the 15 GW target for data-center-driven generation is conservative, with upside potential to reach 30 GW by 2035.