"Meta Platforms Inc. is set to become one of the world's biggest corporate buyers of nuclear power, striking a series of deals as technology companies rush to lock up electricity for the AI boom. The agreements could end up totaling more than 6 gigawatts that's enough to power a city of about 5 million homes. The deals include purchasing electricity from three existing Vistra Corp. plants and support several small reactors that Sam Altman-backed Oklo Inc."
"The deals underscore Big Tech's scramble to secure energy amid the intensifying battle for artificial intelligence dominance. US power usage is expected to climb at least 30% by 2030, with most of the new demand coming from data centers, according to energy consulting firm Grid Strategies. Amazon.com Inc., Alphabet Inc. and Microsoft have all signed deals to tap power from nuclear reactors. Those plans have now been dwarfed by Meta's efforts."
"Urvi Parekh, Meta's head of global energy, said that the agreements announced Friday seek to address concerns about the shuttering of existing nuclear power plants, and reflect the need for early investment to spur new nuclear power. There isn't a one size fits all approach that's gonna get us to where the US needs to go in order for nuclear to be a material part of the energy mix, Parekh said in an interview, noting that the company remains committed to low-carbon energy."
Meta Platforms Inc. is locking in more than 6 gigawatts of nuclear electricity through multiple agreements, including purchases from three Vistra Corp. plants and support for small reactors from Oklo Inc. and TerraPower LLC. The capacity could power roughly 5 million homes and reflects a major corporate shift to secure low-carbon electricity for growing AI-driven data-center demand. The transactions follow a June deal with Constellation Energy and have lifted shares of Vistra and Oklo. Meta says the contracts aim to prevent plant closures and spur early investment in new nuclear capacity while maintaining a commitment to low-carbon energy.
Read at www.mercurynews.com
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