New York, Jan 10, 2026, 13:49 EST — Market closed.
- Vistra shares surged 10.5% Friday following Meta’s signing of 20-year nuclear power purchase agreements linked to Vistra plants.
- The contracts span 2,609 MW of “carbon-free” power and capacity in PJM, with output set to rise through 2034.
- Investors are now eyeing Tuesday’s U.S. CPI report, with Vistra’s earnings update due later this quarter.
Shares of Vistra (VST) jumped 10.5% on Friday, beating the broader utilities sector, following Meta Platforms’ deal for long-term power contracts tied to Vistra’s nuclear assets.
The rally matters now because Big Tech’s rush to secure reliable electricity is hitting utility and power-producer order books, not just buzzing in conversations about “data centers” and demand forecasts.
Investors in utilities stocks, often viewed as bond proxies, may find a 20-year power purchase agreement (PPA) shifts the dynamics quickly. Such deals also secure steady cash flows, smoothing the way for financing plant upgrades and license renewals.
Meta announced 20-year contracts to purchase power from three Vistra nuclear plants and will support small modular reactor (SMR) projects with Oklo and TerraPower—these smaller reactors are designed for factory assembly. Joel Kaplan of Meta said this deal, combined with an earlier agreement with Constellation, positions Meta as “one of the most significant corporate purchasers of nuclear energy in American history.” 1
Vistra announced contracts delivering over 2,600 megawatts of “zero-carbon” energy, including 433 MW from uprates—equipment upgrades boosting output. “This commitment from Meta provides Vistra the certainty needed to invest,” said CEO Jim Burke. Meta’s Urvi Parekh described nuclear as the “clean, reliable power” critical for its AI goals. 2
A filing revealed Vistra plans to start deliveries on part of the operating output in late 2026, reaching full delivery by the end of 2027. The company also forecasted an 8% to 10% increase in incremental “Adjusted Free Cash Flow before Growth” from the operating portion of these contracts, plus an additional 5% to 7% tied to uprate output once fully delivered. 3
The shift came during a solid day for rate-sensitive sectors. Utilities stood out as one of the top S&P 500 performers on Friday. Even a softer-than-anticipated U.S. jobs report failed to dent bets on Fed rate cuts down the line. “On the overall AI theme, investors are getting granular,” noted Zachary Hill, head of portfolio management at Horizon Investments. 4
Vistra’s chart reveals traders moved fast to lock in profits. The stock kicked off at $174.33, climbed briefly to $174.74, then dropped back to close at $166.37, per MarketWatch data; its 52-week range spans $90.51 to $219.82. 5
The upside hinges on a string of “ifs” that the market will keep adjusting for. Nuclear plants face outages, uprates require approvals and precise timing, and the spending stretches over years; any hiccup, cost overruns, or weaker power prices could chip away at the contract’s worth.
Investors will be eyeing Vistra when trading picks up Monday, to see if it can maintain the mid-$160s after last week’s gap up. Utilities stocks face their next big macro check with Tuesday’s U.S. CPI report. Vistra’s upcoming earnings call is slated for around Feb. 26, per Nasdaq’s calendar. BLS CPI schedule 6
