Meta today announced three deals to supply nuclear power to its data centers: one from a startup, one from a smaller energy company and one from a larger company that already operates several nuclear reactors in the US
Oklo and TerraPowertwo small modular reactor (SMR) developers have each signed deals with Meta to build multiple reactors, while Vistra is selling capacity from its existing power plants.
Nuclear power has become a favored power source for tech companies as their AI ambitions have grown, providing stable electricity 24/7. Startups and incumbents alike have benefited from the race for data center power, albeit in different ways.
Existing reactors tend to be the cheapest form of baseload capacity, but there are only so many to go around, which has pushed Meta and its peers toward SMR startups. Companies like Oklo and TerraPower are betting that by building a large number of smaller reactors, they can lower costs through mass production. It’s a plausible hypothesis, although it has yet to be tested. Meta’s deal could give SMR startups a chance to prove it.
The deals are the result of a request for proposals issued by Meta in December 2024, in which Meta sought partners that could add 1 to 4 gigawatts of generating capacity by the early 2030s. Much of the new power will flow through the PJM Interconnection, a network that spans 13 Mid-Atlantic and Midwestern states and is saturated with data centers.
The 20-year agreement with Vistra will have the most immediate impact on Meta’s energy needs. The technology company will buy a total of 2.1 gigawatts from two existing nuclear power plants, Perry and Davis-Besse in Ohio.
As part of the deal, Vistra will also add capacity to those power plants and the Beaver Valley Power Plant in Pennsylvania. Together, the upgrades will generate an additional 433 MW and are scheduled to come online in the early 2030s.
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Meta is also buying 1.2 gigawatts from the young operator Oklo. As part of its deal with Meta, Oklo hopes to start supplying power to the grid as early as 2030. SMR went public through a SPAC in 2023, and while Oklo has a big deal with data provider Switch, it is struggling to get its reactor design approved by the Nuclear Regulatory Commission.
If Oklo can meet its schedule, the new reactors will be built in Pike County, Ohio. The startup’s Aurora Powerhouse reactors produce 75 megawatts of electricity each, and it will need to build more than a dozen to fulfill Meta’s mandate.
TerraPower is a startup founded by Bill Gates that aims to start sending electricity to Meta as early as 2032. It has designed a reactor that uses molten sodium to transfer power from a reactor to a generator. When demand is low, superheated salt can be stored in an insulated tank until more power is needed. The reactor can produce 345 megawatts of electricity, while the storage system can provide an additional 100 to 500 megawatts for more than five hours.
The company has more smoothly navigated the NRC process and is working with GE Hitachi to build its first power plant in Wyoming. Its first two reactors for Meta will provide 690 megawatts, and Meta said it has rights to buy another six units for a total of 2.8 gigawatts of nuclear capacity and 1.2 gigawatts of storage.
Meta did not disclose the financial terms of the deals.
Power purchases from Vistra are sure to be the cheapest — electricity from nuclear reactors already in operation is among the cheapest on the grid.
Costs for SMRs have yet to be determined. Many startups have aggressive cost targets: TerraPower has estimated that it can bring it down to $50 to $60 per megawatt hourwhile Oklo has said it aims $80 to $130 per megawatt hour. These figures are for later power plants — early examples are likely to cost more.
