Meta strikes nuclear power agreements with three companies

Meta Platforms said on ⁠Friday it struck 20-year agreements to buy power from three Vistra nuclear plants in the U.S. heartland and develop projects with two companies hoping to build small modular reactors.

Shares of Oklo surged nearly 20%, whereas Vistra rose about 8% ‌in premarket ‌trade.

Meta and other Big Tech companies want to secure long-term electricity supplies as artificial intelligence and data centers increase U.S. power demand ‌for the first time in two decades.