Meta Platforms (NASDAQ:META) said Friday it has signed 20-year power purchase agreements to buy electricity from three Vistra Corp. (NYSE:VST) nuclear plants in the U.S. Midwest and entered development partnerships with two companies pursuing small modular reactor technology, as Big Tech races to lock in reliable, long-term energy supplies for expanding artificial intelligence and data center operations.
Under the deals with Vistra, Meta will purchase power from the Perry and Davis-Besse plants in Ohio and the Beaver Valley plant in Pennsylvania.
The agreements are expected to support financing for expansions at the Ohio facilities and help extend the operational life of the plants, which hold licenses through at least 2036, with one reactor at Beaver Valley permitted through 2047.
Meta will also collaborate with Oklo (NYSE:OKLO) and TerraPower— the latter backed by billionaire Bill Gates—to advance small modular reactor projects.
The company will help fund TerraPower's development of two reactors capable of generating up to 690 megawatts as early as 2032, while securing rights to energy from up to six additional TerraPower reactors by 2035.
Separately, the partnership with Oklo aims to support up to 1.2 gigawatts of capacity in Ohio, with potential operations starting as soon as 2030.
Combined, the agreements are projected to provide Meta with up to 6.6 gigawatts of nuclear power by 2035—equivalent to roughly six to seven typical large-scale nuclear plants.
The moves build on Meta's prior 20-year agreement with Constellation Energy to keep an Illinois reactor online, which Joel Kaplan, Meta's chief global affairs officer, said will make the company one of the largest corporate purchasers of nuclear energy in U.S. history.
The deals reflect intensifying demand for carbon-free, baseload power as AI workloads drive the first sustained increase in U.S. electricity consumption in two decades.