Oklo and Vistra Shares Surge as Meta Turns to Nukes for AI

Oklo Inc. and Vistra Corp. shares rallied, leading peers higher, after Meta Platforms Inc. agreed to purchase nuclear power from the companies to run artificial intelligence (AI) data centers, Monique Mulima reported for Bloomberg News.

Meta signed a 20-year power purchase agreement with Vistra at its two existing power plants and struck another deal with Sam Altman–backed Oklo that will advance its small modular reactor development. (Photo: Oklo, Inc.) 

Oklo shares gained as much as 19%, while Vistra shares rose as much as 16%. Peer NuScale Power Corp. also rose on the news, as did uranium producers such as Centrus Energy Corp. and Cameco Corp.

“This news is incrementally positive for the entire nuclear energy industry, including Oklo, as it reaffirms the commitment from hyperscalers to start leveraging new energy sources to fuel the AI revolution, with power being the biggest headwind to the industry,” Wedbush Securities analyst Dan Ives wrote in a note to clients.

Meta signed a 20-year power purchase agreement with Vistra at its two existing power plants and struck another deal with Sam Altman–backed Oklo that will advance its small modular reactor development.

Small modular reactors have not yet been commercialized.

Tech giants and other data center developers require large supplies of power to feed their increasingly large data centers, a trend that has fueled a backlash against tech companies as households and other businesses contend with rising energy bills.