Meta Platforms (META) has struck 20-year agreements to buy power from three Vistra (VST) nuclear plants in the U.S.
The technology giant behind social media platforms such as Facebook and Instagram said it will use the nuclear power to run its artificial intelligence (A.I.) data centres.
A dollar figure on the nuclear power deal wasn’t provided. But Meta said that it and Vistra are also working to develop projects that will utilize small modular nuclear reactors.
Meta and other technology companies want to secure long-term electricity supplies as A.I. and data centres increase U.S. power demand for the first time in more than 20 years.
Meta Platforms said it will purchase power from Vistra’s Perry and Davis-Besse plants in Ohio and Beaver Valley plant in Pennsylvania.
The deal will help lengthen the lifespan of the U.S.-based nuclear power plants, which are licensed to run through 2036.
Meta will also help develop small modular nuclear reactors planned by Oklo (OKLO) and TerraPower, the latter of which is backed by Microsoft (MSFT) co-founder Bill Gates.
The agreement will provide up to 6.6 gigawatts of nuclear power by 2035 to Meta Platforms. The size of a typical nuclear power plant is about one gigawatt.
META stock has risen 5% in the last 12 months to trade at $646.06 U.S. per share.
Tech Insider
