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,

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.

A 20-year power purchase agreement between Meta and Constellation will secure the long-term operation of Constellation's Clinton Clean Energy Center, while the tech company is also moving forward with its process to develop nuclear capacity at new US locations.