Oklo’s stock jumped 19% to $115.75 in premarket trading on Friday, while Vistra rose 8.8% to $163.80, News.Az reports, citing foreign media.
Meta, the parent company of Facebook, said before the market opened that it would back new reactor projects with developers TerraPower and Oklo. Additionally, it reached an agreement with power producer Vistra to purchase and expand the generation output of three existing nuclear plants in Ohio and Pennsylvania. Financial terms of the deals were not disclosed.
According to The Wall Street Journal, Meta aims for the reactors to be operational as early as 2030 and 2032. Its purchase of nuclear power from Vistra will begin later this year, helping to maintain electricity on the grid.
“We’re very eyes-wide-open that the schedule is challenging, but we think it’s important to be bold,” Urvi Parekh, director of global energy at Meta, told the Journal.
Meta has previously relied on nuclear power to support its AI ambitions. Last year, it agreed to a 20-year deal to buy power from a nuclear plant in Illinois through Constellation Energy.
Other tech companies are also investing in nuclear energy: Amazon has backed reactor developer X-energy, Microsoft signed a 20-year power-purchase deal with Constellation to restart the former Three Mile Island plant in Pennsylvania, and Google partnered with NextEra Energy to reopen a nuclear reactor in Iowa.
