New York, Jan 10, 2026, 12:14 EST — Market closed
- Vistra jumped roughly 10.5% on Friday following Meta’s signing of 20-year nuclear power purchase agreements linked to three of Vistra’s plants
- A recent SEC filing details the delivery ramp and outlines a multi-year capital plan linked to reactor output upgrades
- Traders will be eyeing Monday’s follow-through ahead of Tuesday’s December CPI release
Vistra Corp shares jumped on Friday after Meta Platforms inked 20-year power purchase agreements tied to three of Vistra’s nuclear plants. The stock climbed 10.47%, closing at $166.37. Shares peaked at $174.74 during the day before slipping back near session lows, with roughly 14.3 million shares changing hands. (StockAnalysis)
Big Tech’s push for nonstop power is hitting a grid that can’t keep up with supply. Existing nuclear plants provide steady output, and locking in long-term contracts can convert that reliability into predictable cash flows for investors.
Vistra’s focus isn’t on headlines but on the numbers. A recent regulatory filing reveals the company has committed to supplying Meta with 2,609 megawatts of carbon-free power and capacity — meaning payments for being on standby when the grid calls — starting late 2026 and scaling up through 2034 as upgrades come online. Vistra estimates the operating segment could boost its adjusted free cash flow before growth — essentially cash generated before reinvestment — by roughly 8% to 10% once fully operational, with an additional 5% to 7% increase linked to the uprates, based on its 2026 outlook. (SEC)
Vistra announced the PPAs cover the Perry and Davis-Besse plants in Ohio, plus the Beaver Valley plant in Pennsylvania. They include 433 MW of extra output from uprates—equipment upgrades. CEO Jim Burke said, “This commitment from Meta provides Vistra the certainty needed to invest in these plants.” He also noted the deals back plans to seek license extensions for these units. (Vistra Corp. Investor Relations)
The plants are located within the PJM Interconnection footprint, a regional transmission organization managing wholesale electricity across all or parts of 13 states plus the District of Columbia. Essentially, Meta is securing a portion of generation and capacity, even as the electricity continues flowing through the grid to other users. (PJM)
Meta described its deals with Vistra as part of a larger nuclear energy strategy that also involves partnerships with Oklo and TerraPower on small modular reactors (SMRs). These compact reactors are touted by supporters as being more like manufactured goods than custom-built facilities. Joel Kaplan, Meta’s chief global affairs officer, claimed the agreements would “make Meta one of the most significant corporate purchasers of nuclear energy in American history.” Oklo CEO Jacob DeWitte said Meta’s backing would aid “early procurement and development,” while TerraPower CEO Chris Levesque added the deal would “support rapid deployment of reactors.” Reuters pointed out that no SMRs are yet in commercial operation in the U.S., and regulatory approval remains necessary. (Reuters)
Vistra’s rally comes amid a market increasingly eager to back anything linked to data-center power demand. Nuclear-heavy operators and developers are getting swept into this trade, despite huge differences in timelines and risk profiles from one name to another.
Friday’s trading was uneven, with the stock retreating sharply from its highs. Traders now watch to see if Vistra can sustain the post-deal surge above the mid-$160s or if it will dip back toward Thursday’s close around $150.
There’s a big “but” in play. The cash-flow boost hinges on years of spending, equipment upgrades, and regulatory green lights that won’t wrap up until the next decade. The filing itself points to a long list of uncertainties around timing and costs.
U.S. markets kick back into gear Monday, with investors set to digest whether Vistra’s weekend moves hold up after some detailed scrutiny. The focus turns quickly to Tuesday, Jan. 13, when December CPI numbers drop alongside the kickoff of major bank earnings. These releases could shift rate outlooks and, in turn, influence sentiment around utilities and power stocks. (Reuters)
