Jim Cramer recently discussed Meta Platforms, Inc., focusing on the company's energy procurement strategy for its artificial intelligence infrastructure. Cramer, the host of "Mad Money," highlighted Meta's move to secure electricity from nuclear sources.
"Far more interesting to me was the story that Meta Platforms is buying and building facilities that will generate enough power for the expansion of their AI infrastructure," Cramer said. "Meta is buying electricity from three Vistra plants, nuclear power plants. But what caught my eye was their commitment to buy power from the small nuclear reactors being built by Oklo."
Meta has set 2030 as the date when these nuclear plants are expected to supply electricity. Cramer reacted to this timeline with concern. "Oh, I wish they hadn't said that. I wish they hadn't given us that time frame because almost every company that has tried to build nukes faster than we thought we could have had hideous delays and cost overruns," he stated.
He noted that small modular reactors might require less construction time but added uncertainty due to the technology's novelty. "They have to hope that small form nuclear reactors will take a lot less time. But this is a new technology so I wouldn't bet on it," Cramer remarked. "I wish Meta had given themselves more time instead of just making that promise for 2030."
Cramer concluded by expressing a desire to be proven wrong. "Of course, I'd love to be wrong. If Mark Zuckerberg can somehow find a way to build a nuclear plant on time, give that man a Nobel Prize. Sadly, I wouldn't put money on it," he said.
Meta Platforms, Inc. develops technologies and applications for social networking and messaging, including Facebook, Instagram, WhatsApp, Messenger, Threads, and virtual and augmented reality products.