Meta Joins Big Tech’s Shift to Nuclear Power for Their AI Ambitions – Meta Platforms (NASDAQ:META)

Tuesday, Meta Platforms Inc META announced plans to solicit proposals from nuclear power developers to realize its artificial intelligence innovation and sustainability goals.

The artificial intelligence frenzy has played a central role in the accelerated adoption of nuclear power as an energy source, prompting large technology companies to embark on nuclear power-related projects in order to produce energy. energy for their ongoing AI development initiatives, reports Reuters.

The parent company of Facebook, Instagram and Threads plans to develop 1 to 4 gigawatts (GW) of new nuclear generation capacity in the United States starting in the early 2030s.

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

According to Reuters, Meta Platforms expects nuclear power to meet the growing needs of the electricity grids that power its data centers and the communities around them.

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

Alphabet Inc. GOOG GOOGLE Google has entered into an agreement with Kairos Power to purchase electricity via SMRs, powering up to 500 MW of new carbon-free energy for US power grids.

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

Shares of Meta Platforms have surged more than 77% year to date. Analysts at Bank of America, Rosenblatt, Goldman Sachs and Needham predicted a rise in the stock fueled by Lama And Meta-AI. Meta’s AI investments have delivered 20% revenue growth and show upside potential despite higher investments, analysts say.

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

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