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Meta Taps Nuclear Power for Social Media Data Centers
19 Jun
Summary
- Oklo and Centrus signed a letter of intent for nuclear fuel supply.
- Centrus will provide HALEU for Oklo's Ohio-based powerhouses.
- These powerhouses will supply energy for Meta's data centers.
Oklo, a next-generation nuclear company, saw its stock price increase by 4% on Thursday, outperforming the broader S&P 500 index. This surge was primarily driven by a newly announced supply agreement.
Earlier that day, Oklo and Centrus Energy Group revealed a letter of intent. Under this agreement, Centrus is set to supply nuclear fuel for up to five powerhouses Oklo is constructing in southern Ohio.
These facilities, housing small modular reactors (SMRs), are being developed by Oklo in collaboration with Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp. The SMRs will ultimately provide power to Meta's data centers.
The letter of intent specifies that Centrus will deliver high-assay low-enriched uranium (HALEU) starting in 2029. Deliveries are expected to continue for several years, although specific financial details and duration were not disclosed.
This agreement is considered vital for Oklo's Meta project, representing a significant step forward for the company. Investors responded positively to the news, reflecting a bullish outlook on Oklo's future potential.
