Meta Secures 250 MW Long-Term Energy Deal for Alberta Data Center
META sits 16% above its 52-week low of $520.26.
Summary
Meta Platforms has broken ground on its new data center in Sturgeon County, Alberta, located in Western Canada. This development is a concrete execution of Meta's strategic build-out and massive investments in AI infrastructure, following recent announcements of $135-145 billion in 2026 capital expenditures and reports of significant server supply deficits. To power this facility, Meta has secured a long-term energy supply agreement for 250 megawatts (MW) with Capital Power. This crucial agreement spans over 10 years, with service scheduled to commence in late 2028.
At the time of this announcement, META was trading at $605.01 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.5T. The 52-week trading range was $520.26 to $796.25. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.