Meta Platforms (META, Financials) earned renewed confidence from BofA Securities, which reiterated its Buy rating and $810 price target after the company announced new long term nuclear power partnerships. With Meta shares trading near $653, BofA’s target suggests about 24% upside.

Meta said it struck deals with Vistra, TerraPower, and Oklo to secure as much as 6.6 gigawatts of capacity by 2035. The agreements include Meta’s financial backing for plant maintenance and life extensions, while collaborations with Oklo and TerraPower aim to accelerate nuclear innovation to meet the growing energy needs of data centers.

BofA analysts said the partnerships help Meta secure reliable, low cost power for its AI infrastructure over the next decade. They expect limited near-term expense impact, viewing the investments as capitalized and long-term in nature.

The bank also cited Meta’s strong financial base, with $189 billion in trailing 12-month revenue and 82% gross margins, as support for its energy and AI initiatives.

Meta’s nuclear push underscores how hyperscale technology firms are seeking sustainable solutions to meet soaring energy demand from AI workloads. The company already sources more than a gigawatt of nuclear power through earlier deals with Constellation Energy.