Facebook parent Meta announced an unprecedented deal with Constellation Energy, the largest American nuclear power plant operator, cementing Meta’s turn to turn to nuclear energy to power its energy intensive,

KEY TAKEAWAYS Constellation Energy shares are surging in early trading Tuesday after the company said it had struck a 20-year deal to sell nuclear power to Meta Platforms, in the latest tech firm-to-nuclear tie-up aimed at powering data centers.

Citi downgrades Constellation Energy after securing a 20-year nuclear power deal with Meta. The investment bank believes there’s limited near-term upside for the stock. Citi also downgraded the outlook for Constellation Brands from Buy to Neutral.