Vistra is pivoting into a hyperscaler-anchored power platform, leveraging nuclear and gas assets to meet surging AI energy demand while projecting significant EBITDA upside from new long-term contracts.
Meta is securing its long-term AI data center energy requirements by entering into a 20-year PPA with Vistra for 2,600 MW of nuclear power. This strategic move allows Meta to lock in carbon-free energy at a premium compared to new build costs, ensuring operational stability for its hyperscale infrastructure.
Existing power is preferred because it is still a discount compared to the high costs of new builds, which have seen equipment prices double or triple.
NVIDIA is deepening its integration into the AI infrastructure ecosystem by partnering with Vistra and KKR in the Helix Digital Infrastructure venture. This partnership ensures that NVIDIA's high-performance computing hardware has a reliable, dedicated power supply path, which is critical for the scalability of its data center clients.
While Vistra has committed up to $1 billion, NVIDIA is a key partner in the venture, positioning Vistra as the preferred power provider for the infrastructure.
Vistra (VST) has solidified its position as a critical energy provider for the AI sector by signing 20-year power purchase agreements with Meta and AWS. The company reported a 30% surge in Q2 2026 Adjusted EBITDA to $1.77 billion and launched the Helix Digital Infrastructure venture alongside NVIDIA and KKR to accelerate data center development.
These 20-year agreements provide stable, long-term cash flows and underwrite the continued operation of Vistra's nuclear fleet through the middle of the century.