Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) announced that it has signed new partnerships with nuclear power companies Vistra (NYSE:VST), TerraPower and Oklo (NYSE:OKLO) to secure electricity for its growing artificial intelligence operations, including its Prometheus supercluster in New Albany, Ohio.
The company said the agreements are expected to support up to 6.6 gigawatts of clean energy by 2035, helping meet rising power demand from large-scale data centers.
Meta said the deals will extend the life of existing nuclear plants, support the development of advanced reactor technology and add reliable power to regional electric grids.
Under the arrangements, Meta will purchase power from existing nuclear facilities operated by Vistra in Ohio and Pennsylvania, fund new Natrium reactor projects with TerraPower beginning in the early 2030s, and support the development of a nuclear campus in Ohio with Oklo that could begin operating around 2030.
Meta said the projects are expected to create construction and long-term operational jobs and that the company pays the full cost of the energy used by its data centers.
The agreements build on a nuclear energy deal Meta signed with Constellation Energy last year, as the company plans years ahead to meet future energy needs driven by AI growth.
“Our agreements with Vistra, TerraPower, Oklo, and Constellation make Meta one of the most significant corporate purchasers of nuclear energy in American history,” Meta Chief Global Affairs Officer Joel Kaplan said in a statement.
Shares of Oklo jumped 13% to about $110 on the news, and Vistra shares also added 13% at $170.
Wedbush analysts highlighted the Oklo agreement as particularly significant, noting that it “represents a strong endorsement of advanced nuclear technology from one of the world’s largest technology companies.”
They said the partnership provides Oklo with increased visibility on future demand and could accelerate development timelines for its nuclear campus in Ohio.
“We believe this news is incrementally positive for the entire nuclear energy industry, including Oklo, as it reaffirms the commitment from hyperscalers to start leveraging new energy sources to fuel the AI Revolution with power being the biggest headwind to the industry,” they wrote.
The firm has an ‘Outperform’ rating and $150 price target on Oklo.