Meta Nuke Deal Seen Cheaper Than Microsoft, Jefferies Says (1)

Surging demand for power to run artificial intelligence just prompted Meta Platforms Inc. to enter a 20-year contract with the biggest US nuclear operator, penning a deal that’s likely to be priced at a cheaper rate than a similar agreement rival Microsoft Corp. entered last year.

The parent company of Facebook, Instagram and WhatsApp will probably be paying about $80 per megawatt hour for energy from the Clinton plant in Illinois, according to Paul Zimbardo, an analyst at Jefferies LLC, who made the forecast based on company guidance.

That compares with the firm’s estimate of at least $110 for ...