TLDR
- Oklo signed an agreement with Meta Platforms to develop a 1.2 gigawatt nuclear power campus in Pike County, Ohio
- Meta will prepay for power and provide funding to advance Oklo’s Aurora powerhouse development
- Vistra secured separate 20-year contracts to supply Meta with over 2,600 megawatts from three nuclear plants
- Oklo stock jumped 20% in premarket trading while Vistra climbed 14%, making it the top S&P 500 performer
- Pre-construction begins in 2026 with initial operations targeted for 2030 and full capacity by 2034
Oklo stock exploded 20% in premarket trading Friday after announcing a major agreement with Meta Platforms. The deal supports development of a 1.2 gigawatt clean power campus in Pike County, Ohio.
Oklo Inc., OKLO
The energy produced at the site will power Meta’s regional data centers. This includes Meta’s artificial intelligence supercluster in New Albany.
The agreement gives Meta the ability to prepay for power. This funding mechanism provides project certainty for Oklo’s Aurora powerhouse development.
Oklo plans to use the funds to secure nuclear fuel and advance Phase 1 of the project. The company will gradually scale the facility to reach full 1.2 gigawatt capacity by 2034.
The Aurora powerhouse is a commercial-grade nuclear reactor designed to run on recycled nuclear waste. It represents a new generation of advanced fast reactors.
Vistra Scores Separate Meta Deal
Vistra also jumped into the nuclear-tech rush. The company announced 20-year power purchase agreements with Meta worth over 2,600 megawatts.
Meta will buy 2,176 megawatts of nuclear energy from Vistra’s Perry and David-Besse sites in Ohio. The contracts include an additional 433 megawatts that can be added over time from Ohio plants and the Beaver Valley plant in Pennsylvania.
Vistra stock climbed 14% in premarket trading. This made it the top performer in the S&P 500 during the session.
The two deals highlight the growing demand for nuclear power to support data center operations. Tech companies are increasingly turning to nuclear energy as AI workloads require more power.
Long Road to Commercial Operations
Oklo’s path to this deal started years ago. The company obtained rights to 260 acres in Ohio months before going public in 2024.
Discussions between the parties date back to 2023. That’s when Oklo first announced plans for two power plants in the region.
Pre-construction and site characterization are expected to begin in 2026. The first phase is targeted to come online as early as 2030.
The company declined to share specific financial figures from the Meta agreement. However, the funding commitment represents a vote of confidence for the pre-revenue startup.
Oklo faces regulatory hurdles ahead. The company has yet to earn approval from the Nuclear Regulatory Commission for its reactors.
At the end of September, Oklo confirmed the NRC accepted its principal design criteria topical report for review. This review is proceeding under an accelerated timeline.
The company held a groundbreaking ceremony for its first powerhouse at Idaho National Laboratory in September 2024. Construction has since started with a deployment target of late 2027 or 2028.
Oklo was selected for the Energy Department’s Reactor Pilot Program late last year. The program aims to have at least three test reactors running at national laboratories by July 2026.
The project is expected to create thousands of construction and long-term jobs in southern Ohio. Urvi Parekh, Meta’s head of global energy, indicated the agreement would support Meta’s operations and AI infrastructure in the region.
The post Oklo Stock: Meta Partnership Sends Shares Soaring 20% on Nuclear Deal appeared first on Blockonomi.
Source: https://blockonomi.com/oklo-stock-meta-partnership-sends-shares-soaring-20-on-nuclear-deal/
