BofA Securities Asserts Buy Stance as Meta Platforms, Inc. (META) Inks Nuclear deals to Support AI Infrastructure [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
Inc. (NASDAQ:META) has signed nuclear energy deals with Vistra, TerraPower, and Oklo. The deals are part of the company's bid to secure clean energy to power its Prometheus supercluster as it seeks to develop superintelligence. Meta App 3D sign Prometheus is one of the company's advanced artificial intelligence efforts spanning multiple data center buildings. The deals are expected to support 6.6 gigawatts of new and existing clean energy by 2035. An agreement with Terra Power is likely to result in the development of two new Natrium units capable of generating 690 megawatts. Meta will also buy more than 2.1 gigawatts of energy from Vistra nuclear plants in Ohio. A deal with Oklo will result in the development of 1.2 gigawatts of power to support Meta's data centers. Meanwhile, on January 12, BofA Securities reiterated a Buy rating and an $810 price target on Meta Platforms following confirmation of the nuclear energy deals. The research firm expects the deals to address power
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