Meta Joins Big Tech’s Shift To Nuclear Power For AI Ambitions

On Tuesday, Meta Platforms Inc META announced plans to seek proposals from nuclear energy developers to accomplish its artificial intelligence innovation and sustainability goals.

The artificial intelligence frenzy has been pivotal in the accelerated adoption of nuclear energy as a power source, prompting big tech firms to indulge in nuclear energy-related projects to generate power for their ongoing AI development initiatives, Reuters reports.

The parent company of Facebook, Instagram, and Threads is eyeing 1-4 gigawatts (GW) of new nuclear generation capacity in the U.S. starting in the early 2030s.

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The company emphasized the importance of electric grids expanding and adopting new sources of reliable, clean, and renewable energy to drive the technologies that will build the future of human connection, including the next wave of AI innovation.

According to Reuters, Meta Platforms expects nuclear energy to support the growth needs of the electric grids that power its data centers and the communities around them.

Meanwhile, Amazon.Com Inc AMZN cloud unit Amazon Web Services tapped with Dominion Energy, Inc D to develop a small modular reactor near Dominion’s existing North Anna nuclear power station. In October, Amazon committed over $500 million in nuclear power across three projects from Virginia to Washington state. AWS expects the new SMRs to add a minimum of 300 megawatts of power to the Virginia region.

Alphabet Inc GOOG GOOGL Google forged a deal with Kairos Power to buy power via SMRs, enabling up to 500 MW of new carbon-free power to U.S. electricity grids.

Microsoft Inc MSFT engaged Constellation Energy Corp CEG to reopen Pennsylvania’s Three Mile Island nuclear plant. Microsoft agreed to exclusively purchase the plant’s energy for two decades.

Meta Platforms stock has surged over 77% year-to-date. Bank of America, Rosenblatt, Goldman Sachs, and Needham analysts projected upside for the stock fueled by Llama and Meta AI. Meta’s AI investments drove the 20% revenue growth and have the potential for upside despite higher capex, as per the analysts. 

Price Action: META stock was down 0.77% at $608.75 at last check Wednesday.

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