New York, January 9, 2026, 13:37 EST — Regular session
- Vistra shares jump in midday trade after Meta inks 20-year nuclear power purchase agreements
- An SEC filing shows 2,609 MW under contract, with deliveries beginning in late 2026 and uprates ramping through 2034
- Investors zero in on capex tied to plant upgrades, license extensions and Vistra’s late-February results
Vistra shares were up about 11% by midday Friday after the power producer said Meta Platforms had signed long-term contracts tied to three of its nuclear plants. The stock gained $16.51 to $167.11, after hitting an intraday high of $178.40.
The contracts are in focus as Big Tech hunts steady electricity for data centers, and nuclear plants can run around the clock. Meta said it signed 20-year agreements to buy power from Vistra’s Perry and Davis-Besse plants in Ohio and the Beaver Valley plant in Pennsylvania, and it is also backing projects with Oklo and TerraPower. (Reuters)
Meta is working to lock in supply ahead of an AI-led buildout in Ohio, where it has said its “Prometheus” data center site is expected to come online in 2026. The company said the latest round of deals could add up to as much as 6.6 gigawatts of nuclear power by 2035. (AP News)
A securities filing said Vistra agreed to supply Meta with 2,609 megawatts (MW) of carbon-free power and capacity — payments for energy plus guaranteed availability — from its PJM nuclear fleet. Vistra said some deliveries should begin in late 2026, with full delivery of operating output by the end of 2027. More output from “uprates” — equipment upgrades that lift a plant’s production — is expected to ramp from 2031 through 2034. (SEC)
Vistra CEO Jim Burke said the PPAs should back “continued safe and reliable operation” of the plants and give the company the certainty it needs to invest in them. Meta’s Urvi Parekh, head of global energy, said the company is putting money into nuclear because it offers “clean, reliable power” required for its AI ambitions. (Vistra Corp. Investor Relations)
Meta said its deal with TerraPower covers two Natrium units that can generate up to 690 MW of “firm” power — electricity available when needed — with delivery targeted as early as 2032, and includes rights tied to six more units by 2035. TerraPower CEO Chris Levesque said the aim is to roll out “gigawatts of advanced nuclear energy” in the 2030s. Oklo CEO Jacob DeWitte said Meta’s funding commitment is a “major step” for advanced nuclear. (About Facebook)
Vistra’s move came as utilities led the broader market on Friday, with investors parsing a softer U.S. jobs report and sticking with rate-cut expectations. Utilities were the top S&P 500 sector early on Friday, according to Reuters. (Reuters)
Still, key pieces of the Meta-linked growth story are pushed out in time. Oklo, which is planning a new reactor campus in Ohio, said its business sits in an emerging market and, in its forward-looking risk disclosures, pointed to regulatory and financing uncertainties. (Oklo)
Investors now look ahead to Vistra’s quarterly report, expected around Feb. 26, for color on capital spending tied to the uprates and any update to 2026 cash-flow guidance. Nasdaq lists Feb. 26 as the estimated earnings date. (Nasdaq)
